a production center of Go Faster, a sport drink bottler. Work in process is 4,300 units (units equal to 12-bottle cases): er 11,700 6,190 applied 8,120 26,010 st: 11,400 34,000 42,300 applied 60,800 for cost incurred in August. Debit Credit
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- Sherri Springs is a producer of flavored water. Below is the data for its production in April. Description Amount Subcategory,Work in process inventory, April 1, has 3,060 (units' equal cases): Direct Materials 12,140 Direct labor 6,010 Manufacturing overhead (1,440 machine-hours at $6 per machine-hours) 8,640Single line Single line26,790Double line Subcategory, Units started in April 9,080 Subcategory,Costs incurred in April: Direct Materials 37,000 Direct labor 54,340 Manufacturing overhead applied (13,610 machine-hours) 81,660 The ending inventory consisted of 4,430 units. These units were: 100% complete as to materials, 70% complete as to conversion.Complete a production report using the weighted average method.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).Sherri Springs Equivalent Units UNITS Whole Units Transferred In Direct Material Conversion Costs Units to account…Cost of Production Report: Average Cost Method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31: ACCOUNT Work in Process—Roasting Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 10,500 units, 75% completed 21,000 31 Direct materials, 210,400 units 246,800 267,800 31 Direct labor 135,700 403,500 31 Factory overhead 168,630 572,130 31 Goods transferred, 208,900 units ? ? 31 Bal., ? units, 25% completed ? Required: Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process—Roasting Department. If required, round your cost per equivalent unit answer to the nearest cent. Sunrise…and credit Work in Process account When goods are completed in the production process what is the journal entry a. Debit Manufacturing Overhead account and credit Work in Process account b. Debit Finished Goods account and credit Work in Process account c. Debit Cost of Goods Sold account and credit Finished Goods account 1 d. Debit Cost of Goods Sold account and credit Work in Process account Al Maha Company makes collections on sales according to the following schedule: 10% in the month of sale 60% in the month following sale
- The product of Pili Co. passes through three producing departments namely, A, B, C. The departmental unit costs for April and May are as follows: Dept A Dept B Dept C April 5 8 4 May 5.80 7.50 4.30 As of May 31, there are 10,000 units in process in Dept C, 1/2 done. They were placed in process in Dept A in April, transferred to Dept B in May, and then to Dept C in May. Assuming that these 10,000 units comprise the only work in process inventory for each of the last three months, how much must be their accumulated cost?Using Process Costs For Decision Making The costs of energy consumed in producing good units in the Baking Department of Victor Company were $26,160 and $26,265 for June and July, respectively. The number of equivalent units produced in June and July was 54,500 pounds and 51,500 pounds, respectively. Evaluate the change in the cost of energy between the two months. Round all answers to the nearest cent. Energy cost per pound, June $ Energy cost per pound, July $ The cost of energy has appeared to by $ per pound between June and July.Lui Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at March 31: ACCOUNT Work in Process—Roasting Department ACCOUNT NO. Date Item Debit Credit BalanceDebit BalanceCredit March 1 Bal., 25,000 units, 10% completed 21,250 31 Direct materials, 600,000 units 450,000 471,250 31 Direct labor 244,600 715,850 31 Factory overhead 415,820 1,131,670 31 Goods transferred, 605,000 units ? 31 Bal., ? units, 45% completed ? Required:1. Prepare a cost of production report, and identify the missing amounts for Work in Process—Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to the nearest cent. Units Whole Units Equivalent UnitsDirect…
- nt Bismite Corporation purchases trees from Cheney lumber and processes them up to the split – off point where two products (paper and pencil casings) emerge from the process. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October: Trees processed: 340 trees Production: рaper 150,000 sheets pencil casings 150,000 Sales: раper 140,000 at $0.20 per page pencil casings 147,500 at $0.24 per casing The cost of purchasing 340 trees and processing them up to the split - off point to yield 150,000 sheets of paper and 150,000 pencil casings is $14,500. Bismite's accounting department reported no beginning inventory. If the sales value at split - off method is used, what is the approximate production cost for each pencil casing? (Round intermediary percentages to the nearest hundredth.)Beverage Drink Company processes direct materials up to the splitoff point where two products, A and B, are obtained. The following information was collected for the month of July: Production: A 1500 liters, B 500 liters. The joint cost was $10000. There were no inventory balances of A and B. Product A may be processed further to yield 1500 liters of Product Z5 for an additional processing cost of $2 per liter. Product Z5 is sold for $20 per liter. There was no beginning inventory and ending inventory was 150 liters. Product B may be processed further to yield 500 liters of Product W3 for an additional processing cost of $4. Product W3 is sold for $30 per liter. There was no beginning inventory and ending inventory was 50 liters. --using constant gross-margin percentage NRV method, gross margin of X: Select one: a. $6500 b. $14600 c. $5400 O d. $18900 + 3 ...Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 40% complete 20,000 gallons Units completed and transferred out 135,000 gallons Units in process, July 31, 45% complete 24,000 gallons Costs: Work in process, July 1 $40,000 Costs added during July 372,060 Required: Prepare a production report. Aztec Inc. Mixing Department Production Report For the Month of July (FIFO Method) Unit Information Physical flow: Units to account for: Units Units in beginning WIP Units started Total units to account for Units to account for: Units Units started and completed
- Weighted Average Method, Unit Cost, Valuing Inventories Applegate Enterprises produces premier raspberry jam. Output is measured in pints. Applegate uses the weighted average method. During January, Applegate had the following production data: Units in process, January 1, 60% complete 108,000 pints Units completed and transferred out 720,000 pints Units in process, January 31, 40% complete 225,000 pints Costs: Work in process, January 1 $162,000 Costs added during January 1,053,000 Required: 1. Using the weighted average method, calculate the equivalent units for January._______________equivalent units 2. Calculate the unit cost for January. Round your answer to the nearest cent.$____________ per unitNeed some assistance please to see if I am on the right track. Thanks J & G Distilleries makes one of its products by way of three separate stages. Details of production for the month ending 31st January were as follows: Process Fermenting Distilling BottlingInput material: 65,000 litres $780,000 - -Material added - $89,000 -Direct Labour cost $114,600 $153,500 $225,600Manufacturing Overhead $122,000 $126,000 $193,100Normal losses 8% 5% 5%Output 55,000 litres 53,000 litres 48,000 litresScrap value of losses -…Ling Company has two departments, Assembly and Finishing. Consider the following data for the Assembly Department Beginning work in process Started during the month Completed during the month Ending work in process Costs added during month Units 3,300 19,300 16,300 6,300 Direct Direct % Complete Material Labor Overhead 90% b. Calculate the cost per equivalent unit. Note: Round your answer to 4 decimal places. 60% a. Equivalent units b. Cost per equivalent unit c. Costs transferred out d. Ending inventory cost $13,000 $8,050 $4,310 a. Compute the number of total equivalent units for the Assembly Department. Ling uses the weighted average method to determine equivalent units. c. Compute the amount of costs that should be transferred to the Finishing Department. Note: Round your answer to the nearest cent. d. Compute the amount of costs that should be assigned to the 6,300 units in ending inventory. Note: Round your answer to the nearest cent. per unit Total $2,735 $25,360