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 DATE ITEM October 1 Balance October 31 October 31 Smelting Dept., 31,000 units at $16.50/unit Direct labor October 31 Factory overhead October 31 Finished goods October 31 Bal., 2,000 units, 2/5 completed ACCOUNT NO. POST. REF. DEBIT CREDIT BALANCE DEBIT BALANCE CREDIT 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 Units For the Month Ended October 31 Equivalent Units Equivalent Units Whole 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 Direct Materials Conversion Total Costs Costs Cost per equivalent unit: Total costs for October in Rolling Department Total equivalent units Cost per equivalent unit (b) Costs charged 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) Inventory in process, October 31 (d) Total costs assigned by the Rolling Department Q | I ☐ ☐ ☐ 3. The cost per equivalent unit for direct materials should be taken. from August to October. The cost per equivalent unit for conversion costs from August to October. These changes be investigated for their underlying causes, and any necessary corrective actions

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 DATE ITEM October 1 Balance October 31 October 31 Smelting Dept., 31,000 units at $16.50/unit Direct labor October 31 Factory overhead October 31 Finished goods October 31 Bal., 2,000 units, 2/5 completed ACCOUNT NO. POST. REF. DEBIT CREDIT BALANCE DEBIT BALANCE CREDIT 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 Units For the Month Ended October 31 Equivalent Units Equivalent Units Whole 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 Direct Materials Conversion Total Costs Costs Cost per equivalent unit: Total costs for October in Rolling Department Total equivalent units Cost per equivalent unit (b) Costs charged 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) Inventory in process, October 31 (d) Total costs assigned by the Rolling Department Q | I ☐ ☐ ☐ 3. The cost per equivalent unit for direct materials should be taken. from August to October. The cost per equivalent unit for conversion costs from August to October. These changes be investigated for their underlying causes, and any necessary corrective actions

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter6: Process Costing

Section: Chapter Questions

Problem 65P: Seacrest Company uses a process-costing system. The company manufactures a product that is processed...

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Question Content Area

Work in Process Account Data for Two Months; Cost of Production Reports

Pittsburgh Aluminum Company uses process costing 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:

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
DATE
ITEM
October 1
Balance
October 31
October 31
Smelting Dept., 31,000 units at $16.50/unit
Direct labor
October 31
Factory overhead
October 31
Finished goods
October 31
Bal., 2,000 units, 2/5 completed
ACCOUNT NO.
POST. REF. DEBIT
CREDIT
BALANCE
DEBIT
BALANCE
CREDIT
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
Units
For the Month Ended October 31
Equivalent Units
Equivalent Units
Whole 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

Direct Materials
Conversion
Total
Costs
Costs
Cost per equivalent unit:
Total costs for October in Rolling Department
Total equivalent units
Cost per equivalent unit (b)
Costs charged 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)
Inventory in process, October 31 (d)
Total costs assigned by the Rolling Department
Q | I
☐ ☐ ☐
3. The cost per equivalent unit for direct materials
should be taken.
from August to October. The cost per equivalent unit for conversion costs
from August to October. These changes
be investigated for their underlying causes, and any necessary corrective actions

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