please do the entire thing not sure about any of the answers
x i Data Table UNITS O sheets 3,600 sheets 2,800 sheets Beginning Work-in-Process Inventory Started in production Completed and transferred out to Compression in January Ending Work-in-Process inventory (40% of the way through the preparation process) 800 sheets COSTS $ 0 Beginning Work-in-Process Inventory Costs added during January: Wood 2,340 Adhesives 1,120 Direct labor 1,200 2,700 Ma acturing overhead allocated $ 7,360 Total costs Print Done Ryan Homes produces exterior siding for homes. The Preparation Department begins with wood, which is chopped into small bits. At the end of the process, an adhesive is added. Then the wood/adhesive mixture goes on to the Compression Department, where the wood is compressed into sheets. Conversion costs are added evenly throughout the preparation process. January data for the Preparation Department are as follows: E: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare a production cost report for the Preparation Department for January. The company uses the weighted-average method. (Hint: Each direct material added at a different point in the production process requires its own equivalent units of production computation.) (Complete all answer boxes. Enter a "0" for any zero balances. Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar. Abbreviation used: EUP = equivalent units of production.) Ryan Homes Production Cost Report-Preparation Department Month Ended January 31 Equivalent Units Physical Direct Materials Conversion Units Wood Adhesive Costs UNITS Units to account for: Beginning work-in-process Started in production 3600 3600 Total units to account for Units accounted for: Completed and transferred out 2800 2800 2800 2800 800 Ending work-in-process 800 320 3600 3600 2800 3120 Total units accounted for Direct Materials Conversion Total COSTS Wood Adhesives Costs Costs Costs to account for: Beginning work-in-process 0 0 0 0 Costs added during the period 2340 1120 3900 7360 Total costs to account for 2340 1120 3900 7360 3600 Divided by: Total EUP 2800 3120 .65 .40 1.25 Cost per equivalent unit Costs accounted for: Completed and transferred out 1820 1120 3500 6440 520 0 Ending work-in-process 400 920 2340 1120 3900 Total costs accounted for 7360 Requirement 2. Prepare the journal entry to record the cost of the sheets completed and transferred out to the Compression Department. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Jan. 31 6440 Work-in-Process InventoryCompression Work-in-Process InventoryPreparation 6440 Requirement 3. Post the journal entries to the Work in process inventoryPreparation T-account. What is the ending balance? Post all transactions to the Work-in-Process InventoryPreparation T-account using the appropriate descriptions as posting references. Calculate and enter the ending balance of the account, "Bal. Jan. 31", on the appropriate side of the T-account. Work-in-Process Inventory_Preparation Bal. Dec. 31 0 Direct materials
