uctia Fern end - i Data Table repo eac epard of dit sferre Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in March Ending Work-in-Process Inventory (80% of the way through the fermenting process) Costs 400 gallons 8,800 gallons 7,700 gallons 1,500 gallons ect ma hent. Beginning Work-in-Process Inventory: Direct materials 43 220 180 Direct labor Manufacturing overhead allocated Costs added during March: Direct materials Direct labor 9,801 440 4,500 Manufacturing overhead allocated Total costs added during March 14,741 then Print Done Clear All Conversion costs are added evenly throughout each proc Read the requirements. gnment d transfe i Requirements Irtment. of direc (Prepa 1. Prepare the journal entries to record the assignment of direct materials and direct labor and the allocation of manufacturing overhead to the Fermenting Department. Assume labor costs are accrued and not yet paid. Also prepare the journal entry to record the cost of the gallons completed and transferred out to the Packaging Department. 2. Post the journal entries to the Work-in-Process InventoryFermenting T-account. What is the ending balance? 3. What is the average cost per gallon transferred out of the Fermenting Department into the Packaging Department? Why would Smithson Winery's managers want to know this cost? Print Done and then click Check Answer. art and lloy Reference Smithson Winery Production Cost Report - Fermenting Department (Partial) sigi and Month Ended March 31 ent Direct Conversion Total are COSTS Materials Costs Costs Costs to account for: 443 43 $ 9,801 400 $ 4,940 14,741 Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total equivalent units of production 15,184 9,844 $ 9,200 5,340 $ 8,900 1.07 $ 0.60 Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process 8,239 $ 1,605 4,620 $ 720 12,859 2,325 Total costs accounted for 9,844 $ 5,340 $ 15,184 ields Print Done Clear All O E18-24 (similar to) Question Help Smithson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging Direct materiais Smithson Winery completed the following production cost report for to Formenting Department for the month of March added at the beginning of the formening processores) and at the end of the packaging procesos). Data from the month of March for the Fermenting Department are as follows Click the icon to view the production cost report) Conversion costs are added evenly throughout each process. The company uses the wind-average method Click the icon to view the data from March) Read the requirements Requirement 1. Prepare the joumal entries to record the assignment of direct materials and direct whor and the allocation of manufacturing overhead to the Fermenting Department. Assume labor costs are aceed and not yet past. Also prepare the joumal entry to record the cost of the gallons completed and transferred out to the Packaging Department Begin with the summwy Journal entry to record the assignment of direct materials and direct labor and the location of manufacturing overhead to the Fernenting Department Propwe a single compound journal entry Record debita first, then credits. Exclude explanations from any jumal entries.) Accounts Credit Mar 31 Date Debit hent 1. Prepare the journal entries to record the assignment of direct material I entry to record the cost of the gallons completed and transferred out to the h the summary journal entry to record the assignment of direct materials and o xclude explanations from any journal entries.) te Accounts Deb . 31 Manufacturing Overhead Raw Materials Inventory Wages Payable Work-in-Process Inventory-Fermenting Work-in-Process Inventory-Packaging
