Step Instructions Points Possible 1 23 2 24 1. Summarize the flow of physical units and compute the equivalent units. (Hint: Each direct material added at a different point in the production process requires its own equivalent-unit computation.) i. Check your spelling carefully and do not abbreviate. ii. Follow the format of the exhibit that shows the flow of physical units and output in terms of equivalent units. iii. Complete all input areas. Be sure to include any zero balances in the report. 2. Compute the cost per equivalent unit for each cost category. 1. Check your spelling carefully and do not abbreviate. ii. Follow the format of the exhibits that show how to summarize total costs to account for and to compute the cost per equivalent unit. ii. Complete all input areas. Be sure to include any zero balances in the report. 3. Compute the total costs of the units (gallons): a. Completed and transferred out to the Retort Department b. In the Mixing Department's ending work in process inventory i. Check your spelling carefully and do not abbreviate. ii. Follow the format of the exhibit that assigns total costs to units completed and to units in ending work in process. iii. Complete all input areas. Be sure to include any zero balances in the report. 3 29 Total Points 76 Process Costing Five-step process: Materials added at different points Grammer Chicken produces canned chicken alaking. The chicken alaking passes through three departments: (1) Mixing, (2) Retort (sterilization), and (3) Packing. In the Mixing Department chicken and cream are added at the beginning of the process, the mixture is partly cooked, and chopped green peppers and mushrooms are added at the end of the process. Conversion costs are incurred evenly throughout the mixing process. November data from the Mining Department are as follows: Gallons Beginning work in process inventor Started production $0 21,740 Completed and transferred out to Retort in November Ending work in process inventory (60% of the way through the mixing process) Costs 0 gallon Beginning work in process invente 14,300 gallon Costs added during November: Chicken gallon 13,600 s Cream Green peppers and mushrooms Direct labor 700 gallon Manufacturing overhead Total costs 4,000 5,440 11,200 9,830 $52,210 i. ii. iii. Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong. Requirements 1 Summarize the flow of physical units and compute the equivalent units. (Hint: Each direct material added at a different point in the production process requires its own equivalent-unit Check your spelling carefully and do not abbreviate. Follow the format of the exhibit that shows the flow of physical units and output in terms of equivalent units. Complete all input areas. Be sure to include any zero balances in the report. 2 Compute the cost per equivalent unit for each cost category. Check your spelling carefully and do not abbreviate. Follow the format of the exhibits that show how to summarize total costs to account for and to compute the cost per equivalent unit. Complete all input areas. Be sure to include any zero balances in the report. 3 Compute the total costs of the units (gallons): Completed and transferred out to the Retort Department In the Mixing Department's ending work in process inventory i. Check your spelling carefully and do not abbreviate. Follow the format of the exhibit that assigns total costs to units completed and to units in ending work in process. Complete all input areas. Be sure to include any zero balances in the report i. ii. iii. a. b. ii. iii. Saving & Submitting Solution 1 Save file to desktop, a. Create folder on desktop, and label COMPLETED EXCEL PROJECTS 2 Upload and submit your file to be graded. Navigate back to the activity window - screen where you downloaded the initial spreadsheet Click Choose button under step 3: locate the file you just saved and click Open Click Upload button under step 3 d. Click Submit button under step 4 a. . Vieving Results 1 Click on Results tab in My AccountingLab 2 Click on the Assignment you were working on 3 Click on Project link: this will bring up your Score Card 4 Within Score Card window, click on Live Comments Report (lower right) to download spreadsheet with feedback (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) 1. Compute the equivalent units. (Hint: Each direct material added at a different point in the production process requires its own equivalent-unit computation.) Grammer Chicken Mixing Department Flow of Physical Units and Computation of Equivalent Units Equivalent Units Flor of Green Convers Physical Chicken, Peppers, ion Flor of Production Units Cream Mushrooms Costs Units to account for: Total physical units to account for Units accounted for: Total physical units accounted for Total equivalent units 2. Compute the cost per equivalent unit for each cost category. Grammer Chicken Mixing Department Cost per Equivalent Unit Month Ended November 30 Peppers Chicken and Conversion Cost per Equivalent Unit and Cream Mushrooms Costs Total Total costs to account for Cost per equivalent unit 3. Compute the total costs of the units Igallons): a. Completed and transferred out to the Retort Department b. In the Mixing Department's ending work in process inventory Grammer Chicken Mixing Department Assignment of Costs Chicken and Cream Green Peppers and Conversion Costs Total Assign costs Completed and transferred out Costs assigned to units completed and transferred out Ending work in process: Costs assigned to units in ending WIP Total costs accounted for
