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Road Trip manufactures auto roof racks in a two-stage process that includes shaping and plating. Steel alloy is the basic raw material of the shaping
Road Trip manufactures auto roof racks in a two-stage process that includes shaping and plating. Steel alloy is the basic raw material of the shaping process. The steel is moulded according to the design specifications of automobile manufacturers (Ford and General Motors). The Plating Department then adds an anodized finish. At March 31, before recording the transfer of cost from the Plating Department to Finished Goods Inventory, the Road Trip general ledger included the following account: :: (Click the icon to view the T-account.) Additional information included: (Click the icon to view the addition - X Data Table Requirements Requirement 1. Fill in the time line for the Work in Process Inventory-Plating March 1 balance 33,100 Transferred-in from Shaping 43,200 Direct materials 27,300 Start Direct labour 25,100 Manufacturing overhead 37,500 Print Done i Additional information The direct materials (rubber pads) are added at the end of the plating process. Conversion costs are incurred evenly throughout the process. Work in process of the Plating Department on March 1 consisted of 1,200 racks. The $33,100 beginning balance of Work in ProcessPlating includes $21,600 of transferred-in cost and $11,500 of conversion cost. During March, 2,400 racks were transferred in from the Shaping Department. The Plating Department transferred 2,100 racks to finished goods inventory in March and 1,500 were still in process on March 31. This ending inventory was 50% of the way through the plating process. Print Done Requirement 1. Fill in the time line for the Plating Department. Start Complete Complete Requirement 2. Prepare the March production cost report for the Plating Department. Before we can start the production cost report we must first compute the Plating Department's equivalent units. (For entries with a zero balance, make sure to enter "0" in the appropriate cell.) Road Trip Plating Department Equivalent Unit Computations (Weighted-Average) Flow of Equivalent Units Physical Transferred Direct Conversion Flow of Production Units in Materials Costs Units accounted for: Total equivalent units Now we will begin the production cost report by completing the first half of the report. Compute the cost per equivalent unit. (For entries with a zero balance, make sure to enter "0" in the appropriate column.) Road Trip Plating Department Production Cost Report (Weighted-Average) Transferred Direct Conversion in Materials Costs Total Cost per equivalent unit Complete the March production cost report by assigning the costs to units completed and transferred out and to ending inventory. (Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step. For entries with a zero balance, make sure to enter "0" in th appropriate cell(s). Round your answers to the nearest whole dollar.) Road Trip Plating Department Production Cost Report (Weighted Average Method) Transferred- Direct Conversion Total in Materials Costs Costs Assignment of total costs: Total cost accounted for Requirement 3. Journalize all transactions affecting the Plating Department during March, including the entries that have already been posted. Record the journal entry for the cost of the units transferred in from the Shaping Department. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Record the direct materials, direct labour, and manufacturing overhead assigned to the Plating Department. Journal Entry Date Accounts Debit Credit Prepare the journal entry to record the cost of units completed and transferred out. Prepare the journal entry to record the cost of units completed and transferred out. Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next
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