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A B D E G H 1 J L M N P 1 Given Data: Required Part (1) Quantity Schedule 2 Humpty Dumpty Inc. manufactures Yummy potato chips. 3 Production of the potato chips occurs in three departments: Cleaning, Cooking and Packaging. 4 Consider the Cooking department where the "seasoning" materials are added, more specifically: 5 6 Seasoning is added when the conversion costs are % 85%. complete 5 7 Equivalent Units of Production Transferredlo Seasoning Conversion 9 10 11 13 Transferred to Seasoning Conversion The accounting records of the Humpty Dumpty factory provided the following information for jalapeno Total flavoured potato chips in its Cooking department during a weekly period (week 9): Transferred in Seasoning Conversion costs costs costs %. 12 Beginning work in process, week 9 125,000 $ 70,000 $ - $ 8,750 Degree (percentage) of completion 0% 35% 14 Transferred In units during week 9 ? 15 Costs added during week 9 $ 105,000 $ 14.000 $ 52,850 16 Equivalent Units of Production 17 Completed units during week 9 202,800 18 19 Ending work in process units, week 9 128,000 Total 20 Degree (percentage) of completion ? ? 76% 21 22 Other possible % complete for costs: 07 102 20% 30% 40% 23 50% 60% 70% 80% 90% 24 100% Cost per E.U.P 25 (2) z6 units sold during week 9 140,000 27 selling price per unit $ 1.99 Costs Accounted for: Total 28 Transferred Out 29 REQUIRED WIP-ending 30 (1) Transferred In 31 Prepare a Production Report for the Cooking department week 9 using the weighted average method and prepare any Seasoning 32 resulting journal entry. Conversion 33 (2) 34 Based on your calculations, would the company achieve a gross profit on this product of 75% in week 9? a 35 Show your gross profit calculation. Journal Entry 36 37 38 3. Wording to be referenced in completing your production report: Part (2) 40 Conversion Would the company achieve a 75% gross profit in week 9? 41 Costs added Show.calculations 42 Costs to be Accounted for: 43 Equivalent Units of Production 44 Seasoning 45 Transferred In 46 Transferred Out 47 Units Accounted for: 4Units Started into production Gross Profit 49 Units to be Accounted for: 50 WIP - beginning 51 WIP - ending Debit Credit A B D E G H 1 J L M N P 1 Given Data: Required Part (1) Quantity Schedule 2 Humpty Dumpty Inc. manufactures Yummy potato chips. 3 Production of the potato chips occurs in three departments: Cleaning, Cooking and Packaging. 4 Consider the Cooking department where the "seasoning" materials are added, more specifically: 5 6 Seasoning is added when the conversion costs are % 85%. complete 5 7 Equivalent Units of Production Transferredlo Seasoning Conversion 9 10 11 13 Transferred to Seasoning Conversion The accounting records of the Humpty Dumpty factory provided the following information for jalapeno Total flavoured potato chips in its Cooking department during a weekly period (week 9): Transferred in Seasoning Conversion costs costs costs %. 12 Beginning work in process, week 9 125,000 $ 70,000 $ - $ 8,750 Degree (percentage) of completion 0% 35% 14 Transferred In units during week 9 ? 15 Costs added during week 9 $ 105,000 $ 14.000 $ 52,850 16 Equivalent Units of Production 17 Completed units during week 9 202,800 18 19 Ending work in process units, week 9 128,000 Total 20 Degree (percentage) of completion ? ? 76% 21 22 Other possible % complete for costs: 07 102 20% 30% 40% 23 50% 60% 70% 80% 90% 24 100% Cost per E.U.P 25 (2) z6 units sold during week 9 140,000 27 selling price per unit $ 1.99 Costs Accounted for: Total 28 Transferred Out 29 REQUIRED WIP-ending 30 (1) Transferred In 31 Prepare a Production Report for the Cooking department week 9 using the weighted average method and prepare any Seasoning 32 resulting journal entry. Conversion 33 (2) 34 Based on your calculations, would the company achieve a gross profit on this product of 75% in week 9? a 35 Show your gross profit calculation. Journal Entry 36 37 38 3. Wording to be referenced in completing your production report: Part (2) 40 Conversion Would the company achieve a 75% gross profit in week 9? 41 Costs added Show.calculations 42 Costs to be Accounted for: 43 Equivalent Units of Production 44 Seasoning 45 Transferred In 46 Transferred Out 47 Units Accounted for: 4Units Started into production Gross Profit 49 Units to be Accounted for: 50 WIP - beginning 51 WIP - ending Debit Credit