Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Requirements Enter your search term 1. What is the percentage of completion for (a) transferred-in costs and direct materials in beginning work-in-process inventory and (b)

image text in transcribed
image text in transcribed
image text in transcribed
Requirements Enter your search term 1. What is the percentage of completion for (a) transferred-in costs and direct materials in beginning work-in-process inventory and (b) transferred-in costs and direct materials in ending work-in-process inventory? 2. For each cost category, compute equivalent units in the testing department Show physical units in the first column of your schedule. 3. For each cost category, summarize total testing department costs for October 2017 calculate the cost per equivalent unit, and assign costs to units completed (and transferred out) and to units in ending work in process 4. Prepare journal entries for October transfers from the assembly department to the testing department and from the testing department to Finished Goods. Print Done - X Data Table Physical Units Transferred In Direct Conversion (Car Seats) Costs Materials Costs Work in process, October 1a 6,900 $2.930,000 $0 $661,320 Transferred in during October 2017 ? Completed during October 2017 28,300 Work in process, October 31 3,100 Total costs added during October 2017 $8,405,400 $10,329,500 $4,353,480 "Degree of completion transferred-in costs, ?%, direct materials, ?%, coriversion costs, 70% "Degree of completion transferred-in costs, ?%, direct materials, 2%, conversion costs, 50% Print Done Gamma piece w Ourmand Requirements Enter your search term 1. What is the percentage of completion for (a) transferred-in costs and direct materials in beginning work-in-process inventory and (b) transferred-in costs and direct materials in ending work-in-process inventory? 2. For each cost category, compute equivalent units in the testing department Show physical units in the first column of your schedule. 3. For each cost category, summarize total testing department costs for October 2017 calculate the cost per equivalent unit, and assign costs to units completed (and transferred out) and to units in ending work in process 4. Prepare journal entries for October transfers from the assembly department to the testing department and from the testing department to Finished Goods. Print Done - X Data Table Physical Units Transferred In Direct Conversion (Car Seats) Costs Materials Costs Work in process, October 1a 6,900 $2.930,000 $0 $661,320 Transferred in during October 2017 ? Completed during October 2017 28,300 Work in process, October 31 3,100 Total costs added during October 2017 $8,405,400 $10,329,500 $4,353,480 "Degree of completion transferred-in costs, ?%, direct materials, ?%, coriversion costs, 70% "Degree of completion transferred-in costs, ?%, direct materials, 2%, conversion costs, 50% Print Done Gamma piece w Ourmand

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

Financial Accounting Information For Decisions

Authors: Robert W. Ingram, Bruce Baldwin

4th Edition

0324069545, 978-0324069549

More Books

Students also viewed these Accounting questions

Question

When do I give in to my bad habit?

Answered: 1 week ago

Question

Do you agree with the results/recommendations?

Answered: 1 week ago