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: (Click the icon to view the data.) Data Table Read the requirements. Transferred Direct Conversion Total COSTS In Materials Costs Costs LUNITS
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: (Click the icon to view the data.) Data Table Read the requirements. Transferred Direct Conversion Total COSTS In Materials Costs Costs LUNITS
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Chapter 7, Part 3. Please answer in same format as question so it's easy to read
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:
(Click the icon to view the data.)
Data Table
Read the requirements.
Transferred
Direct
Conversion
Total
COSTS
In
Materials
Costs
Costs
UNITS
Costs to account for:
Beginning Work-in-Process Inventory
75 rolls
Beginning work-in-process
$
3,700 $
1,450 $
4,950 $
10,100
Transferred in from Spinning Department during July
590 rolls
Costs added during the period
21,570
11,185
53,472
86,227
Completed during July
550 rolls
Total costs to account for
$
25.270 $
12,635 $
58,422 $
96,327
Ending Work-in-Process (80% complete for conversion work)
115 rolls
Divided by: Total EUP
665
665
642
COSTS
38.00 $
Beginning Work-in-Process Inventory (transferred in costs, $3,700;
materials cost, $1,450; conversion costs, $4,950)
19.00 $
91.00
Cost per equivalent unit
$
10,100
Costs accounted for:
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)
11,185
53,472
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