Question
PLEASE ANSWER ASAP, WILL RATE Southside Sports produces basketballs in two departments: cutting and stitching. Each department has one direct-cost category (direct materials) and one
PLEASE ANSWER ASAP, WILL RATE
Southside Sports produces basketballs in two departments: cutting and stitching. Each department has one direct-cost category (direct materials) and one indirect-cost category (conversion costs). This problem focuses on the stitching department. After cutting, basketballs are immediately transferred to the stitching department. Direct material is added when the stitching process is 80% complete. Conversion costs are added evenly during stitching operations. After stitching is completed, basketballs are immediately transferred to Finished Goods. Southside Sports uses the weighted-average method of process costing. The following is a summary of the March 2020 operations of the stitching department:
summary of the March 2020 operations of the stitching department: Begin by completing the following table to summarize the physical and equivalent units. (For amounts with a zero balance, make sure to enter "0" in the appropriate cell.) Requirements Data table 1. Summarize total stitching department costs for March 2020 and assign these costs to units completed (and transferred out) and to units in ending work-in-process inventory. 2. Prepare journal entries for March transfers from the cutting department to the stitching department and from the stitching department to Finished GoodsStep by Step Solution
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