(c) Complete All Things Brass Work-In-Process Inventory – Polishing Process T-account, clearly showing the ending balance. (d) Prepare the journal entries for the: ▪ assignment of direct materials, direct labour incurred, and the manufacturing overhead applied to the Polishing Process ▪ cost of the units completed and transferred out to the Packaging Process (e) Given that 30% of the unexpected losses were because of pilferage, prepare the abnormal spoilage statement, clearly showing All Things Brass true loss associated with the Polishing Process
(c) Complete All Things Brass Work-In-Process Inventory – Polishing Process T-account, clearly showing the ending balance. (d) Prepare the journal entries for the: ▪ assignment of direct materials, direct labour incurred, and the manufacturing overhead applied to the Polishing Process ▪ cost of the units completed and transferred out to the Packaging Process (e) Given that 30% of the unexpected losses were because of pilferage, prepare the abnormal spoilage statement, clearly showing All Things Brass true loss associated with the Polishing Process
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
(c) Complete All Things Brass Work-In-Process Inventory – Polishing Process T-account, clearly showing the
ending balance.
(d) Prepare the
▪ assignment of direct materials, direct labour incurred, and the manufacturing overhead applied to
the Polishing
▪ cost
(e) Given that 30% of the unexpected losses were because of pilferage, prepare the abnormal spoilage
statement, clearly showing All Things Brass true loss associated with the Polishing Process
![All Things Brass produces brass handles for the furniture industry in a four-stage process -Mixing
Moulding. Polishing and Packaging Costs incurred in the Polishing Department during January are
summarized as follows:
WIP - Polishing Process A/C
January 1 Bal.
Transfer from Moulding
Direct Materials Added
1,310,000
391,600
20,000
Direct Labour
638,000
Manufacturing Overhead
307,400
Normal losses are estimated to be 2%% of input during the period. Inspection takes place during the
processing operation, at which point damaged handles are separated from good handles and sold as scrap
to local furniture manufacturers at $85 each.
At inspection, 2,000 handles were rejected as scrap. These units had reached the following degree of
completion:
Transfer from Moulding
100%
Direct material added
40%
Conversion costs
20%
Work-in-progress at the end of January was 4,000 handles and had reached the following degree of
completion:
Transfer from Moulding
100%
Direct material added
S0%
Conversion costs
50%
Direct materials added and conversion costs are incurred uniformiy throughout the process.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F06aa5276-0e66-4f27-8ae6-6dddc247c3f8%2F8d9b905d-5f0f-4a15-bc29-6b19bcdeb62f%2F5moh1a8_processed.png&w=3840&q=75)
Transcribed Image Text:All Things Brass produces brass handles for the furniture industry in a four-stage process -Mixing
Moulding. Polishing and Packaging Costs incurred in the Polishing Department during January are
summarized as follows:
WIP - Polishing Process A/C
January 1 Bal.
Transfer from Moulding
Direct Materials Added
1,310,000
391,600
20,000
Direct Labour
638,000
Manufacturing Overhead
307,400
Normal losses are estimated to be 2%% of input during the period. Inspection takes place during the
processing operation, at which point damaged handles are separated from good handles and sold as scrap
to local furniture manufacturers at $85 each.
At inspection, 2,000 handles were rejected as scrap. These units had reached the following degree of
completion:
Transfer from Moulding
100%
Direct material added
40%
Conversion costs
20%
Work-in-progress at the end of January was 4,000 handles and had reached the following degree of
completion:
Transfer from Moulding
100%
Direct material added
S0%
Conversion costs
50%
Direct materials added and conversion costs are incurred uniformiy throughout the process.
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