Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

U S Weygandt, Managerial Accounting, Fifth Canadian Edition Help System Announcements Question Budinga kayaking the composite method is a very wbour-tensive process in the fabrication

image text in transcribed
image text in transcribed
U S Weygandt, Managerial Accounting, Fifth Canadian Edition Help System Announcements Question Budinga kayaking the composite method is a very wbour-tensive process in the fabrication department, they go through several steps as employees carefully place layers of Kevlarina mould and then resinto fuse together the layers. The excess resin is removed with a vacuum process, and the upper shell and lower shet are removed from the moulds and assembed. The seat, hatch, and other components are added in the fishing department At the beginning of April, Current Designs had 28 kayaks in process in the fabrication department. Rick Thune, the production manager estimated that about 80% of the material costs had been added to these boats, which were about some complete with respect to the conversion costs. The cost of this inventory had been calculated to be in materials and 98,780 in conversion costs During Apr 67 boats were started. At the end of the month, the 35 kayaks in the ending inventory had 20% of the materials and of the conversion costs already added to them A review of the accounting records for Art showed that materials with a 17.750 had been regioned by the department and that the conversion costs for the month were 10.000 in the w a verage method Complete a production cost report for Apr 2030 for the fabrication department CURRENT DESIGNS Production Cost Reports Fabrication Department Equivalent Units Materials Conversion Costs Physical Units Total Quantities what be accounted for Work in process, April 1 Units accounted for Transferred out Work in process, April 30 Total cost Equivalent units Unit costs Work in process, April 30 Total units Costs Unt costs Total cost Equivalent units Unit costs Costs to be accounted for Work in process, April 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, April 30 Materials Conversion costs Total costs LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK Question Attempts: 0 of 1 used

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 Accounting Version 3.1

Authors: Joe Ben Hoyle, C.J. Skender, Leah Kratz

1st Edition

1453339442, 9781453339442

More Books

Students also viewed these Accounting questions