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Casey Carpet manufactures broadloom carpet in seven processes: spinning, dyeing, plying, spooling, tufting, latexing and shearing. In the Dyeing Department, direct materials (dye) are added at the beginning of the process. Conversion cost are incurred evenly throughout the process. Information for July 2018 follows: E (Click the icon to view the data.) 1 Data Table Read the requirements. Completed and transferred out 550 550 550 550 Ending work-in-process 115 115 115 92 UNITS 665 665 665 642 Beginning Work-in-Process Inventory 75 rolls Total units accounted for Transferred in from Spinning Department during July 590 rolls Transferred Direct Conversion Total Completed during July 550 rolls Ending Work-in-Process (80% complete for conversion work) 115 rolls COSTS In Materials Costs Costs COSTS Costs to account for: Beginning Work-in-Process Inventory (transferred in costs, $3,700; materials cost, $1,450; conversion costs, $4,950) 10,100 Transferred in from Spinning Department 21,570

Casey Carpet manufactures broadloom carpet in seven processes: spinning, dyeing, plying, spooling, tufting, latexing and shearing. In the Dyeing Department, direct materials (dye) are added at the beginning of the process. Conversion cost are incurred evenly throughout the process. Information for July 2018 follows: E (Click the icon to view the data.) 1 Data Table Read the requirements. Completed and transferred out 550 550 550 550 Ending work-in-process 115 115 115 92 UNITS 665 665 665 642 Beginning Work-in-Process Inventory 75 rolls Total units accounted for Transferred in from Spinning Department during July 590 rolls Transferred Direct Conversion Total Completed during July 550 rolls Ending Work-in-Process (80% complete for conversion work) 115 rolls COSTS In Materials Costs Costs COSTS Costs to account for: Beginning Work-in-Process Inventory (transferred in costs, $3,700; materials cost, $1,450; conversion costs, $4,950) 10,100 Transferred in from Spinning Department 21,570

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 7, Part 2. Please fill in as same formula as quesion

Casey Carpet manufactures broadloom carpet in seven processes: spinning, dyeing, plying, spooling, tufting, latexing and shearing. In the Dyeing Department, direct materials (dye) are added at the beginning of the process. Conversion costs are incurred evenly throughout the process. Information for July 2018 follows: E (Click the icon to view the data.) Data Table Read the requirements. Completed and transferred out 550 550 550 550 Ending work-in-process 115 115 115 92 UNITS 665 665 665 642 Beginning Work-in-Process Inventory 75 rolls Total units accounted for Transferred in from Spinning Department during July 590 rolls Transferred Direct Total Completed during July 550 rolls Conversion COSTS In Materials Costs Costs Ending Work-in-Process (80% complete for conversion work) 115 rolls COSTS Costs to account for: Beginning Work-in-Process Inventory (transferred in costs, $3,700; materials cost, $1,450; conversion costs, $4,950) $ 10,100 Transferred in from Spinning Department 21,570 Materials cost added during July Conversion costs added during July (manufacturing wages, $8,050; manufacturing overhead allocated, $45,422) Total costs to account for 11,185 53,472 Cost per equivalent unit
Transcribed Image Text:Casey Carpet manufactures broadloom carpet in seven processes: spinning, dyeing, plying, spooling, tufting, latexing and shearing. In the Dyeing Department, direct materials (dye) are added at the beginning of the process. Conversion costs are incurred evenly throughout the process. Information for July 2018 follows: E (Click the icon to view the data.) Data Table Read the requirements. Completed and transferred out 550 550 550 550 Ending work-in-process 115 115 115 92 UNITS 665 665 665 642 Beginning Work-in-Process Inventory 75 rolls Total units accounted for Transferred in from Spinning Department during July 590 rolls Transferred Direct Total Completed during July 550 rolls Conversion COSTS In Materials Costs Costs Ending Work-in-Process (80% complete for conversion work) 115 rolls COSTS Costs to account for: Beginning Work-in-Process Inventory (transferred in costs, $3,700; materials cost, $1,450; conversion costs, $4,950) $ 10,100 Transferred in from Spinning Department 21,570 Materials cost added during July Conversion costs added during July (manufacturing wages, $8,050; manufacturing overhead allocated, $45,422) Total costs to account for 11,185 53,472 Cost per equivalent unit
Equivalent Units Physical Transferred Direct Conversion UNITS Units In Materials Costs Units to account for: Beginning work-in-process 75 Transferred in 590 665 Total units to account for Units accounted for: Completed and transferred out 550 550 550 550 115 115 115 92 Ending work-in-process 665 665 665 642 Total units accounted for
Transcribed Image Text:Equivalent Units Physical Transferred Direct Conversion UNITS Units In Materials Costs Units to account for: Beginning work-in-process 75 Transferred in 590 665 Total units to account for Units accounted for: Completed and transferred out 550 550 550 550 115 115 115 92 Ending work-in-process 665 665 665 642 Total units accounted for
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