Spelling 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 70% complete. Conversion costs are added evenly during stitching operations. When those operations are done, the basketballs are immediately transferred to Finished Goods. Spelling Sports uses the weighted average method of process costing. The following is a summary of the March 2017 operations of the stitching department (Click the icon to view the information.) Read the requirements Requirement 1. Summarize total binding department costs for April 2017, and assign these costs to units completed and transferred out) and to units in ending work in process. Begin by completing the following table to summarize the physical and equivalent units. (For amounts with a zero balance, make sure to enter "0" in the appropriate cell.) Requirements Equivalent Units Physical Units Transferred-In Direct Conversion (books) Costs Materials Costs Beginning work in process 17,500 58.000 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. Transferred in during March To account for Completed and transferred out during March 52.000 21,500 Print Done Ending work in process Accounted for Equivalent units of work done to date Summarize total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. Begin by summarizing the total costs to account for. (For amounts with a zero balance, make sure to enter "0" in the appropriate cell.) , . Total Transferred-In Direct Conversion Production Costs Costs Materials Costs 0 Data Table Total costs to account for Calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. (Round your answers to the nearest cent.) Direct 1 B D E Physical Units Transferred-In Conversion (basketballs) Costs Materials Costs 17,500 $ 45,350 $ os 17,660 Transferred-In Direct Conversion Costs Materials Costs 3 100% 0% 80% 58,000 Divide by 2 Beginning work in process Degree of completion, beginning work in process 4 Transferred in during March 2017 5 Completed and transferred out during March 2017 6 Ending work in process, March 31 Degree of completion, ending work in process 8 Total costs added during March 52,000 Cost per equivalent unit 21.500 Assign total costs to units completed (and transferred out) and to units in ending work in process. (For amounts with a zero balance, make sure to enter "O" in the appropriate cell.) 7 100% 0% 20% Total Transferred-In Direct Conversion s 154,500 $ 28.080 $ 89,310 Production Costs Costs Materials Costs Assignment of costs: Print Done Completed and transferred out Ending work in process Choose from any list or enter any number in the input fields and then continue to the next question. Calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. (Round your answers to the nearest cent.) Transferred-In Direct Conversion Costs Materials Costs 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. Divide by Cost per equivalent unit Print Done Assign total costs to units completed (and transferred out) and to units in ending work in process. (For amounts with a zero balance, make sure to enter "O" in the appropriate cell.) Total Transferred-In Direct Conversion Production Costs Costs Materials Costs Assignment of costs: Completed and transferred out Ending work in process Total costs to account for Data Table Requirement 2. Prepare journal entries for March transfers from the cutting department to the stitching department and from the stitching department to Finished Goods. (Record debits first, then credits. Exclude explanations from any jo , . Begin by recording the transfer from the cutting department to the stitching department. . B D E Journal Entry Direct Conversion Date 1 Accounts Debit Credit Costs Materials Costs Physical Units Transferred-In (basketballs) 17.500 $ 45,360 $ 100% 2 Beginning work in process OS 17.680 3 0% 60% 56,000 52,000 Degree of completion, beginning work in process 4 Transferred in during March 2017 5 Completed and transferred out during March 2017 6 Ending work in process, March 31 7 Degree of completion, ending work in process 8 Total costs added during March 21.500 Now record the transfer from the stitching department to Finished Goods. 100% 096 20% Journal Entry s 154,500 $ 28,080 $ 89,3101 Date Accounts Debit Credit Print Done Choose from any list or enter any number in the input fields and then continue to the next