Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Spring Water Company produces premium bottled water. In the second department, the Bottling Department, conversion costs are incurred evenly throughout the bottling process, but packaging

Spring Water Company produces premium bottled water. In the second department, the Bottling Department, conversion costs are incurred evenly throughout the bottling process, but packaging materials are not added until the end of the process. Costs in beginning Work-in-Process Inventory include transferred in costs of $1,700, direct labor of $700, and manufacturing overhead of $330
March data for the Bottling Department follow:
Requirements
1. Prepare a production cost report for the Bottling Department for the month of
March.
The company uses the weighted-average method.
2. Prepare the journal entry to record the cost of units completed and transferred out.
3. Post all transactions to the Work-in-Process InventoryBottling T-account. What is the ending balance?
Requirement 1. Prepare a production cost report for the Bottling Department for the month of
March.
The company uses the weighted-average method. (Complete all input fields. Enter a "0" for any zero balances. 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.)
image text in transcribed
here is an example of how it should look like for requirement 1
image text in transcribed
requirement 2 and 3 example
image text in transcribed
please answer the question
Data table Requirement 2. Prepare the joumal entry to record the cost of units completed and transferred out. The Bottling Department is the last department in the process. Once the units are bottled, then, they are transferred out of the Bottl Finished Goods Inventory) amounted to $203,050. To prepare this entry, then, well be reduce the Work-in-Process Inventory-Bottin Requirement 3.Post all transactions to the Work-in-Process Inventory-Bottling T-account. What is the ending balance? Begin byenter the beginning balance, Bal. Feb. 28\%, and then posting all transactions to the Workin-Process Inventory-Bottling T Remember that the assignment of direct materials, direct labor, and manufacturing overhead increase the account's balance where Pure Spring Compary Production Cost Report - Bottling Department Month Ended March 31, 2024

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 And Managerial Accounting El Camino College Edition

Authors: Haka Bettner Carcello Williams

1st Edition

0077838246, 978-0077838249

More Books

Students also viewed these Accounting questions

Question

What qualities do you see as necessary for your line of work?

Answered: 1 week ago