please answer all 3 questions
Exercise 5-1 Process Costing Journal Entries (L05-1) Quality Brick Company produces bricks in two processing departments --Molding and Firing. Information relating to the company's operations in March follows: a. Raw materials used in production: Molding Department. $27,900; and Firing Department. $4,800. b. Direct labor costs incurred: Molding Department, $16,600; and Firing Department, $4,800. c. Manufacturing overhead was applied: Molding Department, $23.200; and Firing Department, $39,800. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company's process costing system, the cost of the unfired, molded bricks was $69,500. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the company's process costing system, the cost of the finished bricks was $107700. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $106,400 Required: Prepare journal entries to record items (a) through (1) above. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Journal entry worksheet Record issuance of raw materials for use in production. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general Journal Check my work Exercise 5-8 Equivalent Units; Cost per Equivalent Unit; Assigning Costs to Units-Weighted-Average Method (LO5-2, LO5-3, LO5-4) Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow: Units 58,000 38,000 Work in process inventory, May 1 Work in process inventory, May 31 Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Units transferred to the next production department Materials cost added during May Conversion cost added during May Percent Complete Materials Conversion 100 40 100 25 $ 49,100 $ 13,600 249,000 269,000 $ 73,700 $ 195,275 Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May. 2. Compute the first production department's cost per equivalent unit for materials and conversion for May. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May. Complete this question by entering your answers in the tabs below. Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May. 2. Compute the first production department's cost per equivalent unit for materials and conversion for May. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the first production department's equivalent units of production for materials and conversion for May. Materials Conversion Equivalent units of production Required Required 2 > Check my work Problem 5-15 Comprehensive Problem-Weighted-Average Method [L05-2, LO5-3, LO5-4, LO5-5) Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June Percent Completed Materials Conversion 705 400 Work in process, beginning Started into production Completed and transferred out Work in process, ending Units 50,000 265,000 255,000 60,000 756 250 Work in process, beginning Cost added during June Materials Conversion $ 16,500 $ 5,000 $ 178,400 $ 105,700 Required: 1. Calculate the Blending Department's equivalent units of production for materials and conversion in June. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion in June. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. 4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total for June. 5. Prepare a cost reconciliation report for the Blending Department for June Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the Blending Department's equivalent units of production for materials and conversion in June. Materials Conversion Equivalent units of production Required 2 >
