ces Work in process inventory, March 1 Work in process inventory, March 31 Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, March 1 Units transferred to the next production department Pulping cost added during March Conversion cost added during March Percent Completed Units Pulping 3,000 100% Conversion 80% 7,000 100% 75% $ 885 $ 360 133,900 $ 44,203 $ 21,904 No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the Pulping Department. Wet fiber is processed in the Drying Department in batches; each unit in the above table is a batch and one batch of wet fibers produces a set amount of dried paper that is passed on to the Finishing Department. Required: For March: 1. Compute the Drying Department's equivalent units of production for pulping and conversion. 2. Compute the Drying Department's cost per equivalent unit for pulping and conversion. 3. Compute the Drying Department's cost of ending work in process inventory for pulping, conversion, and in total. 4. Compute the Drying Department's cost of units transferred out to the Finishing Department for pulping, conversion, and in total. 5. Prepare a cost reconciliation report for the Drying Department. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the Drying Department's equivalent units of production for pulping and conversion. Equivalent units of production Pulping Conversion Required Required 2 >
ces Work in process inventory, March 1 Work in process inventory, March 31 Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, March 1 Units transferred to the next production department Pulping cost added during March Conversion cost added during March Percent Completed Units Pulping 3,000 100% Conversion 80% 7,000 100% 75% $ 885 $ 360 133,900 $ 44,203 $ 21,904 No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the Pulping Department. Wet fiber is processed in the Drying Department in batches; each unit in the above table is a batch and one batch of wet fibers produces a set amount of dried paper that is passed on to the Finishing Department. Required: For March: 1. Compute the Drying Department's equivalent units of production for pulping and conversion. 2. Compute the Drying Department's cost per equivalent unit for pulping and conversion. 3. Compute the Drying Department's cost of ending work in process inventory for pulping, conversion, and in total. 4. Compute the Drying Department's cost of units transferred out to the Finishing Department for pulping, conversion, and in total. 5. Prepare a cost reconciliation report for the Drying Department. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the Drying Department's equivalent units of production for pulping and conversion. Equivalent units of production Pulping Conversion Required Required 2 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:ces
Work in process inventory, March 1
Work in process inventory, March 31
Pulping cost in work in process inventory, March 1
Conversion cost in work in process inventory, March 1
Units transferred to the next production department
Pulping cost added during March
Conversion cost added during March
Percent Completed
Units
Pulping
3,000
100%
Conversion
80%
7,000
100%
75%
$ 885
$ 360
133,900
$ 44,203
$ 21,904
No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the Pulping
Department. Wet fiber is processed in the Drying Department in batches; each unit in the above table is a batch and one batch of wet
fibers produces a set amount of dried paper that is passed on to the Finishing Department.
Required:
For March:
1. Compute the Drying Department's equivalent units of production for pulping and conversion.
2. Compute the Drying Department's cost per equivalent unit for pulping and conversion.
3. Compute the Drying Department's cost of ending work in process inventory for pulping, conversion, and in total.
4. Compute the Drying Department's cost of units transferred out to the Finishing Department for pulping, conversion, and in total.
5. Prepare a cost reconciliation report for the Drying Department.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2 Required 3 Required 4 Required 5
Compute the Drying Department's equivalent units of production for pulping and conversion.
Equivalent units of production
Pulping
Conversion
Required
Required 2 >
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