Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Requirement 1. Prepare a production cost report for the Mixing Department for March. The company uses the weighted average method. (Round all cost per unit
Requirement 1. Prepare a production cost report for the Mixing Department for March. The company uses the weighted average method. (Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar. Abbreviation used: EUP = equivalent units of production.) Requirements Neal Paper, Co. Production Cost Report-Mixing Department Month Ended March 31 Equivalent Units Physical Direct Conversion Units Materials Costs UNITS 1. Prepare a production cost report for the Mixing Department for March. The company uses the weighted average method. 2. Journalize all transactions affecting the company's mixing process during March. Assume labor costs are accrued and not yet paid. Units to account for: Print Done Total units to account for Units accounted for: On March 1, the Mixing Department had 250 rolls of paper in process. During March, the Mixing Department completed the mixing process for those 250 rolls and also started and completed the mixing process for an additional 3,850 rolls of paper. The department started but did not finish the mixing process for an additional 600 rolls, which were 20% complete with respect to both direct materials and conversion work at the end of March. Direct materials and conversion costs are incurred evenly throughout the mixing process. Total units accounted for Data Table Print Done Total Costs Direct Materials Beginning inventory, Mar. 1 $ 140 Costs added during March 4,502 $ 4,642 Total costs Direct Labor $ 70 2,870 $ 2,940 450 A Overhead Allocated $ 240 3,150 $ 3,390 10,522 10,972 $ Check
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started