Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses a process cost system to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process-Rolling on September 1 and debits to the account during September were as follows: Bal., 1,000 units, 60% completed: Direct materials (1,000 x $3.4) $ 3,400 Conversion (1,000 x 60% x $1.4) 840 $ 4,240 From Smelting Department, 22,800 units $79,800 Direct labor 20,904 Factory overhead 11,256 During September, 1,000 units in process on September 1 were completed, and of the 22,800 units entering the department, all were completed except 2,200 units that were 20% completed. Charges to Work in Process-Rolling for October were as follows: $96,940 From Smelting Department, 26,200 units Direct labor Factory overhead 28,810 15,510 During October, the units in process at the beginning of the month were completed, and of the 26,200 units entering the department, all were completed except 1,300 units that were 80% completed. 1. Enter the balance as of September 1 in a four-column account for Work in Process-Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Rolling Department ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM POST. REF. DEBIT CREDIT Sept. 1 Bal., 1,000 units, 60% completed V 4,240 84,040 79,800 Sept. 30 Sept. 30 104,944 Smelting Dept., 22,800 units at $3.5 Direct labor Factory overhead Finished goods Bal., 2,200 units, 20% completed 20,904 11,256 Sept. 30 Sept. 30 Sept. 30 116,200 46,020 X If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent. If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent. Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30 Whole Units Equivalent Units Direct Units Materials (a) Conversion (a) Units charged to production: Inventory in process, September 1 840 x Received from Smelting Department 18,400 x Total units accounted for by the Rolling Department 19,200 X Units to be assigned costs: Inventory in process, September 1 Started and completed in September 800 X 16,600 x 17,400 X 1,800 x 19,200 x Transferred to finished goods in September 0 16,600 X 16,600 x 1,800 x 18,400 x 560 X 16,600 x 17,160 x Inventory in process, September 30 1,620 x Total units to be assigned costs 18,780 x Costs Costs Direct Materials Conversion Total Costs Cost per equivalent unit: Total costs for September in Rolling Department Total equivalent units Cost per equivalent unit (b) Costs assigned to production: Inventory in process, September 1 Costs incurred in September Total costs accounted for by the Rolling Department Costs allocated to completed and partially completed units: Inventory in process, September 1 balance (c) To complete inventory in process, September 1 (C) Cost of completed September 1 work in process Started and completed in September (c) Transferred to finished goods in September (c) Inventory in process, September 30 (d) Total costs assigned by the Rolling Department 2. Provide the same information for October by recording the October transactions in the four-column work in process account. Construct a cost of production report, and present the October computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Rolling Department ACCOUNT NO. Balance DEBIT CREDIT DATE ITEM POST. REF. DEBIT CREDIT October 1 Balance October 31 Smelting Dept., 26,200 units at $3.7 October 31 Direct labor October 31 Factory overhead October 31 Finished goods October 31 Bal., 1,300 units, 80% completed If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent. If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent. Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended October 31 Whole Units Equivalent Units Units Direct Materials (a) Conversion (a) Units charged to production: Inventory in process, October 1 Received from Smelting Department Total units accounted for by the Rolling Department Units to be assigned costs: Inventory in process, October 1 Started and completed in October Transferred to finished goods in October Inventory in process, October 31 Total units to be assigned costs COOL Costs Direct Materials Conversion Total Costs Cost per equivalent unit: Total costs for October in Rolling Department Total equivalent units Cost per equivalent unit (b) Costs assigned to production: Inventory in process, October 1 Costs incurred in October Total costs accounted for by the Rolling Department Costs allocated to completed and partially completed units: Inventory in process, October 1 balance (c) To complete inventory in process, October 1 (c) Cost of completed October 1 work in process Started and completed in October (c) Transferred to finished goods in October (c) 67 Inventory in process, October 31 (d) 6 Total costs assigned by the Rolling Department