Quebec Manufacturing is a furniture manufacturer with two departments: Moulding and Finishing. The company uses the weighted-average method of process costing. In August, the following data were recorded for the Finishing department (Click the icon to view the Finishing department data.) Conversion costs are added evenly during the process. Direct materials costs are added when production is 90% complete. The inspection point is at the 80% stage of production. Normal spoilage is 10% of all good units that pass inspection Spoiled units are disposed of at zero net disposal value. Requirement For August, summarize total costs to account for, and assign these costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process Data Table 107,000 66,000 16,000 65,000 6,600 6,600 66,000 0 0 28,500 66,000 5,280 27,075 25% 28,500 28,500 S 0 To account for Completed and transferred out during current period Normal spoilage on good units Work in process, ending , Normal spoilage on ending WIP Abnormal spoilage Accounted for Work done to date 2.850 0 2,280 91,000 2,850 3,050 3,050 0 2.440 66,000 107.000 28,500 107.000 94,500 103,075 95% 12,500 Summarize total costs to account for calculate cost per equivalent unit for each cost category, and assign total costs to units process. Units of beginning work-in-process inventory Percentage completion of beginning work-in-process units Cost of direct materials in beginning work in process Units started Units completed Units in ending inventory Percentage completion of ending work-in-process units Spoiled units Total costs added during current period: Direct materials Direct manufacturing labour Manufacturing overhead Work in process, beginning: Transferred in costs Conversion costs Cost of units transferred in during current period ending work in S 822,500 S 798,000 Begin by summarizing the total costs to account for. (Enter an amount in each input cell. If any amounts are zero, enter "O". Total Transferred in Direct Conversion Production Costs Costs Materials Costs $ 773,500 $ 107,000 $ 53,500 $ 811,000 Total costs to account for Choose from any list or enter any number in the input fields and then click Check Answer. Print Print Done Help Me Solve This e Text Pages Get More Help Check Answer Quebec Manufacturing is a furniture manufacturer with two departments: Moulding and Finishing. The company uses the weighted average method of process costing. In August, the following data were recorded for the Finishing department: B (Click the icon to view the Finishing department data.) Conversion costs are added evenly during the process. Direct materials costs are added when production is 90% complete. The inspection point is at the 80% stage of production. Normal spoilage is 10% of all good units that pass inspection. Spoiled units are disposed of at zero net disposal value. Requirement For August, summarize total costs to account for, and assign these costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process. Tulal Talsiemeu-il LIEU ---- CONTVISION Production Costs Costs Materials Costs Work in process, beginning $ 160,500 $ 107,000 $ 0 $ 53,500 Costs added in current period 3,205,000 811,000 822,500 1,571,500 $ 3,365,500 918,000 $ Total costs to account for 822,500 $ 1,625,000 Next calculate cost per equivalent unit for direct materials and conversion costs. (Round your answers to four decimal places.) Transferred-in Direct Conversion Costs Materials Costs Divide by: Cost per equivalent unit for work done to date Choose from any list or enter any number in the input fields and then click Check Answer. Clear All Calam
