Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plz do the whole thing this is my last question :( 1 Exercise 3 2 3 Global Defense manufactures its product in two departments, Assembly

image text in transcribed
image text in transcribed
image text in transcribed
plz do the whole thing this is my last question :(
1 Exercise 3 2 3 Global Defense manufactures its product in two departments, Assembly and Testing. 4 The following information is available for the month of March. 5 Assembly Department 6 The beginning work in process inventory consisted of 225 units with a total cost of 7 $26,100 ($18,000 direct materials and $8,100 conversion costs). The beginning 8 work in process inventory was 80% complete as to conversion costs. During March, 9 an additional 275 units were started into production. 400 units were completed and 10 transferred out to the Testing Department during March. The ending work in process 11 inventory consisted of 100 units that were 50% complete as to conversion 12 costs. Materials are added at the beginning of the process in the Assembly 13 Department. During March, the following costs were incurred: direct materials 14 $19.800, direct labor $10,000, and factory overhead $6,380. 15 Testing Department 16 The beginning work-in-process inventory consisted of 240 units with a total cost of 17 $51,600 ($33,600 transferred-in cost and $18,000 conversion costs). The beginning 18 work in process inventory was 25% complete as to conversion costs. A total of 440 19 units were completed and transferred out to finished goods during March. The 20 ending work in process inventory consisted of 200 units which were 80% complete 21 as to conversion costs. Materials are added at the end of the process in the Testing 22 Department. During March, the following costs were incurred: direct materials 23 $13,200, direct labor $28,600, and factory overhead $20,000. 1 Instructione Instructions A. Prepare a production report for the Assembly Departments for March B. Give the general journal entry required to transfer the units from the Assembly Department to the Testing Department. General Journal Account Titles Dr Cr C. Prepare a production report for the Testing Department for March. D. Give the general journal entry required to transfer the units from the Testing Department to finished goods. General Journal Account Titles Dr Cr E. Enter the appropriate cost amounts into Work in Process T-accounts for both departments Work in Process- Work in Process- Assembly Dept. Testing Dept. GLOBAL DEFENSE PRODUCTION REPORT-ASSEMBLY DEPT MARCH SCHEDULE OF EQUIVALENT UNITS L. Beg WIP Units Started Total Units to Account For DM CC Units Completed End WIP Total Units Accounted For Equivalent Units of Production COMPUTATION OF PER UNIT COSTS BEG WIP CURRENT COSTS TOTAL COSTS EQUIV. UNITS UNIT COST + / DM CC Totals III. ASSIGNMENT OF COSTS TO PRODUCTION Cost of Goods Manufactured: Ending Work in Process: DM Total Ending Work in Process Total Cost Assigned

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding The Use Of Financial Accounting Provisions In Private Acquisition Agreements

Authors: Mark L. Stoneman

1st Edition

1627222731, 978-1627222730

More Books

Students also viewed these Accounting questions

Question

11. Give the reliability function of the structure of Exercise 8.

Answered: 1 week ago