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Save Homework: Chapter 17B Score: 0 of 3 pts P17-43 (similar to) 3 of 4 (0 complete) HW Score: 0%, 0 of 11 pts Question
Save Homework: Chapter 17B Score: 0 of 3 pts P17-43 (similar to) 3 of 4 (0 complete) HW Score: 0%, 0 of 11 pts Question Help Super Sports, which produces basketballs, has two departments: cutting and stitching. Each department has one direct-cost category (direct materials) and one indirect-cost category (conversion costs). This problem focuses on the stitching department. Basketballs that have undergone the cutting process are immediately transferred to the stitching department. Direct material is added when the stitching process is 80% complete. Conversion costs are added evenly during stitching operations. When those operations are done, the basketballs are immediately transferred to Finished Goods. Super Sports uses the weighted average method of process costing. The following is a summary of the March 2017 operations of the stitching department: Requirements - X A Data Table 1. Summarize total stitching department costs for March 2017, and assign these costs to units completed (and transferred out) and to units in ending work in process. 2. Prepare journal entries for March transfers from the cutting department to the stitching department and from the stitching department to Finished Goods. Print Physical Units Transferred-In Direct Conversion (basketballs) Costs Materials Costs 30,000 $ 50,000 $ 0 $ 60,000 100% 0% 60% 70,000 80,000 20,000 Beginning work in process Degree of completion, beginning work in process Transferred in during March 2017 Completed and transferred out during March 2017 Ending work in process, March 31 Degree of completion, ending work in process Total costs added during March Done To account for 100% 210,000 $ 0% 40,000 $ 20% 66,000 Enter any number in the edit fields and then click Check Answer. $ 5 parts remaining Print Done
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