Question
P-M:3-35A Preparing production cost report, second department with beginning WIP; journal entries Carla Carpet manufactures broadloom carpet in seven processes: spinning, dyeing, plying, spooling, tufting,
P-M:3-35A Preparing production cost report, second department with beginning WIP; journal entries Carla Carpet manufactures broadloom carpet in seven processes: spinning, dyeing, plying, spooling, tufting, latexing, and shearing. In the Dyeing Department, direct materials (dye) are added at the beginning of the process. Conversion costs are incurred evenly throughout the process. Information for November 2024 follows:
Beginning Work in process Inventory, 70 rolls
Transferred in from Spinning Department during November, 550 rolls
Completed during November, 480 rolls
Ending Work in process Inventory 80% complete for conversion work, 140 rolls
The data for Costs are as follows.
Beginning Work in process Inventory, transferred in costs, $4,000, materials costs, $1,400, conversion costs, $5,300. $10,700
Transferred in from Spinning Department, 23,280
Materials costs added during November, 14,100
Conversion costs added during November, manufacturing wages, $8,725, manufacturing overhead allocated, $43,991. 52,716
Requirements
Prepare the November production cost report for Carlas Dyeing Department. The company uses the weighted-average method.
Journalize all transactions affecting Carlas Dyeing Department during November, including the entries that have already been posted. Assume labor costs are accrued and not yet paid.
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