Q1. Entries for Flow of Factory Costs for Process Cost System

Sweeties, Inc., manufactures a sugar product by a continuous process involving three production departmentsRefining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $610,700, $213,700, and $140,500, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $34,200, and work in process at the end of the period totaled $42,100

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a. Journalize the entries to record the flow of costs into the Refining Department during the period for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank.

1.	Factory Overhead-Refining DepartmentFinished GoodsMaterialsWork in Process-Refining DepartmentWork in Process-Sifting Department	- Select -	- Select -
	Factory Overhead-Refining DepartmentFinished GoodsMaterialsWork in Process-Refining DepartmentWork in Process-Sifting Department	- Select -	- Select -
2.	Factory Overhead-Refining DepartmentMaterialsWages PayableWork in Process-Refining DepartmentWork in Process-Sifting Department	- Select -	- Select -
	Factory Overhead-Refining DepartmentMaterialsWages PayableWork in Process-Refining DepartmentWork in Process-Sifting Department	- Select -	- Select -
3.	CashFactory Overhead-Refining DepartmentFinished GoodsWork in Process-Refining DepartmentWork in Process-Sifting Department	- Select -	- Select -
	CashFactory Overhead-Refining DepartmentFinished GoodsWork in Process-Refining DepartmentWork in Process-Sifting Department	- Select -	- Select -

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b. Journalize the entry to record the transfer of production costs to the second department, Sifting. If an amount box does not require an entry, leave it blank.

blank	Factory Overhead-Refining DepartmentFactory Overhead-Sifting DepartmentMaterialsWork in Process-Refining DepartmentWork in Process-Sifting Department	- Select -	- Select -
	Factory Overhead-Refining DepartmentFactory Overhead-Sifting DepartmentMaterialsWork in Process-Refining DepartmentWork in Process-Sifting Department	- Select -	- Select -

Q2. Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance

The chief cost accountant for Voltaire Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May 1 would be $754,000, and total direct labor costs would be $580,000. During May, the actual direct labor cost totaled $50,000, and factory overhead cost incurred totaled $67,600.

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a. What is the predetermined factory overhead rate based on direct labor cost? Enter your answer as a whole percent not in decimals. fill in the blank 893499f62fcaf82_1%

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b. Journalize the entry to apply factory overhead to production for May. If an amount box does not require an entry, leave it blank.

blank	Accounts PayableCashFactory Overhead-Blending DepartmentWages PayableWork in Process-Blending Department	- Select -	- Select -
	Accounts PayableCashFactory Overhead-Blending DepartmentFinished GoodsWork in Process-Blending Department	- Select -	- Select -

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c. What is the May 31 balance of the account Factory OverheadBlending Department?

Amount:	$fill in the blank f3f4d6031f81032_1
Debit or Credit?	CreditDebit

Q3. Equivalent Units of Production

The Converting Department of Comfy Touch Towel and Tissue Company had 960 units in work in process at the beginning of the period, which were 30% complete. During the period, 20,000 units were completed and transferred to the Packing Department. There were 1,080 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production.

Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount box does not require an entry, leave it blank.

	Whole Units	Direct Materials Equivalent Units	Conversion Equivalent Units
Inventory in process, beginning	fill in the blank 1	fill in the blank 2	fill in the blank 3
Started and completed	fill in the blank 4	fill in the blank 5	fill in the blank 6
Transferred to Packing Department	fill in the blank 7	fill in the blank 8	fill in the blank 9
Inventory in process, ending	fill in the blank 10	fill in the blank 11	fill in the blank 12
Total	fill in the blank 13	fill in the blank 14	fill in the blank 15

Q4. Costs per Equivalent Unit

The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production.

ACCOUNT Work in ProcessBaking Department	ACCOUNT NO.
Date	Item	Debit	Credit	Balance
Debit	Credit
Mar.	1	Bal., 8,400 units, 2/3 completed			17,920
	31	Direct materials, 151,200 units	257,040			274,960
	31	Direct labor	67,860			342,820
	31	Factory overhead	38,176			380,996
	31	Goods finished, 153,300 units		367,640		13,356
	31	Bal. ? units, 3/5 completed			13,356

a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent.

1. Direct materials cost per equivalent unit	$fill in the blank 1
2. Conversion cost per equivalent unit	$fill in the blank 2
3. Cost of the beginning work in process completed during March	$fill in the blank 3
4. Cost of units started and completed during March	$fill in the blank 4
5. Cost of the ending work in process	$fill in the blank 5

Q5. Cost of Units Completed and in Process

The charges to Work in ProcessAssembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.

Work in ProcessAssembly Department
Bal., 5,000 units, 30% completed	13,800	To Finished Goods, 115,000 units	?
Direct materials, 118,000 units @ $2.1	247,800
Direct labor	201,700
Factory overhead	78,380
Bal. ? units, 40% completed	?

a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places.

1. Cost of beginning work in process inventory completed this period.	$fill in the blank 1
2. Cost of units transferred to finished goods during the period.	$fill in the blank 2
3. Cost of ending work in process inventory.	$fill in the blank 3
4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent.	$fill in the blank 4

Q6. Cost of Production Report

The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process.

Work in process, January 1, 9,400 units, 80% completed		$98,512*
*Direct materials (9,400 $7.6)	$71,440
Conversion (9,400 80% $3.6)	27,072
	$98,512
Materials added during January from Weaving Department, 144,800 units		$1,122,200
Direct labor for January		234,482
Factory overhead for January		286,589
Goods finished during January (includes goods in process, January 1), 146,400 units
Work in process, January 31, 7,800 units, 25% completed

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a. Prepare a cost of production report for the Cutting Department. If an amount box does not require an entry, leave it blank. For the cost per equivalent unit computations, round your answers to two decimal places.

Karachi Carpet Company

Cost of Production Report-Cutting Department

For the Month Ended January 31

Units charged to production:	Number of Units
Inventory in process, January 1	fill in the blank 741b5e092f8b058_1
Received from Weaving Department	fill in the blank 741b5e092f8b058_2
Total units accounted for by the Cutting Department	fill in the blank 741b5e092f8b058_3

Units to be assigned costs:	Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, January 1	fill in the blank 741b5e092f8b058_4	fill in the blank 741b5e092f8b058_5	fill in the blank 741b5e092f8b058_6
Started and completed in January	fill in the blank 741b5e092f8b058_7	fill in the blank 741b5e092f8b058_8	fill in the blank 741b5e092f8b058_9
Transferred to finished goods in January	fill in the blank 741b5e092f8b058_10	fill in the blank 741b5e092f8b058_11	fill in the blank 741b5e092f8b058_12
Inventory in process, January 31	fill in the blank 741b5e092f8b058_13	fill in the blank 741b5e092f8b058_14	fill in the blank 741b5e092f8b058_15
Total units to be assigned costs	fill in the blank 741b5e092f8b058_16	fill in the blank 741b5e092f8b058_17	fill in the blank 741b5e092f8b058_18

Costs per equivalent unit:	Direct Materials	Conversion
Total costs for January in Cutting Department	$fill in the blank 741b5e092f8b058_19	$fill in the blank 741b5e092f8b058_20
Total equivalent units	fill in the blank 741b5e092f8b058_21	fill in the blank 741b5e092f8b058_22
Cost per equivalent unit	$fill in the blank 741b5e092f8b058_23	$fill in the blank 741b5e092f8b058_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, January 1			$fill in the blank 741b5e092f8b058_25
Costs incurred in January			fill in the blank 741b5e092f8b058_26
Total costs accounted for by the Cutting Department			$fill in the blank 741b5e092f8b058_27
Cost allocated to completed and partially completed units:
Inventory in process, January 1 balance			$fill in the blank 741b5e092f8b058_28
To complete inventory in process, January 1		$fill in the blank 741b5e092f8b058_29	fill in the blank 741b5e092f8b058_30
Cost of completed January 1 work in process			$fill in the blank 741b5e092f8b058_31
Started and completed in January	$fill in the blank 741b5e092f8b058_32	fill in the blank 741b5e092f8b058_33	fill in the blank 741b5e092f8b058_34
Transferred to finished goods in January			$fill in the blank 741b5e092f8b058_35
Inventory in process, January 31	fill in the blank 741b5e092f8b058_36	fill in the blank 741b5e092f8b058_37	fill in the blank 741b5e092f8b058_38
Total costs assigned by the Cutting Department			$fill in the blank 741b5e092f8b058_39

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b. Compute and evaluate the change in the costs per equivalent unit for direct materials and conversion from the previous month (December). When the answer is an increase enter it as a positive number and when it's a decrease enter it as a negative number. If required, round your answers to two decimal places.

	Increase or Decrease	Amount
Change in direct materials cost per equivalent unit	DecreaseIncrease	$fill in the blank c66e7704c05dfdd_2
Change in conversion cost per equivalent unit	DecreaseIncrease	$fill in the blank c66e7704c05dfdd_4