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(Click the icon to view the data) Read the requirements Divided by Total EUP Cost per equivalent unit Costs accounted for Completed and transferred out Ending work in process slerred in costs of $1,200, direct labor of $600, and manufacturing overhead of $530 March data for the Botting Department follow evenly throughout the bottling process, but packaging materials are not added until the end of the process. Costs in Mar. 31 Accounts $ Finished Goods Inventory Work-in-Process Inventory-Bottling $ 180.000 0.77 S S 119,350 $ 19.250 138.600 $ 155,000 0.18 S 27,900 S 0 27,900 S Total costs accounted for Requirement 2. Prepare the journal entry to record the cost of units completed and transferred out (Record debits first, th Date Debit 203,050 172.500 0.36 55,800 $ 203,050 6,300 25.550 62,100 S 228 600 Credit 203,050 Data table Blue Water Company Work in Process Inventory-Bottling Month Ended March 31, 2024 Beginning inventory, Mar. 1 (40% complete) Production started Transferred out Ending inventory, Mar. 31 (70% complete) Transferred Direct In Materials Units 18,000 S 162,000 155,000 25,000 Print 1,200 137,400 S Done Dollars Direct Manufacturing Total Overhead Labor Costs $ 600 S 27,900 33,500 530 S 2,330 27.470 226,270 Requirement 3. Post all transactions to the Work-in-Process Inventory Bottling T-account. What is the ending balance? Enter the beginning balance, "Bal Feb. 28, and then post all transactions to the Work-in-Process Inventory Bottling T-account using the appropriate descriptions as posting references. Calculate and enter the ending balance of the account, "Bal Mar 31", on the appropriate side of the T-account Work in Process Inventory-Bottling - X

(Click the icon to view the data) Read the requirements Divided by Total EUP Cost per equivalent unit Costs accounted for Completed and transferred out Ending work in process slerred in costs of $1,200, direct labor of $600, and manufacturing overhead of $530 March data for the Botting Department follow evenly throughout the bottling process, but packaging materials are not added until the end of the process. Costs in Mar. 31 Accounts $ Finished Goods Inventory Work-in-Process Inventory-Bottling $ 180.000 0.77 S S 119,350 $ 19.250 138.600 $ 155,000 0.18 S 27,900 S 0 27,900 S Total costs accounted for Requirement 2. Prepare the journal entry to record the cost of units completed and transferred out (Record debits first, th Date Debit 203,050 172.500 0.36 55,800 $ 203,050 6,300 25.550 62,100 S 228 600 Credit 203,050 Data table Blue Water Company Work in Process Inventory-Bottling Month Ended March 31, 2024 Beginning inventory, Mar. 1 (40% complete) Production started Transferred out Ending inventory, Mar. 31 (70% complete) Transferred Direct In Materials Units 18,000 S 162,000 155,000 25,000 Print 1,200 137,400 S Done Dollars Direct Manufacturing Total Overhead Labor Costs $ 600 S 27,900 33,500 530 S 2,330 27.470 226,270 Requirement 3. Post all transactions to the Work-in-Process Inventory Bottling T-account. What is the ending balance? Enter the beginning balance, "Bal Feb. 28, and then post all transactions to the Work-in-Process Inventory Bottling T-account using the appropriate descriptions as posting references. Calculate and enter the ending balance of the account, "Bal Mar 31", on the appropriate side of the T-account Work in Process Inventory-Bottling - X

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products
Section: Chapter Questions
Problem 7P
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Blue Water Company produces premium bottled water. In the second department, the Bottling Department, conversion costs are incurred evenly throughout the bottling process, but packaging materials are not added until the end of the process. Costs in beginning Work-in-Process Inventory include transferred in costs of $1,200, direct labor of $600, and manufacturing overhead of $530 March data for the Bottling Department follow (Click the icon to view the data.) Read the requirements Divided by: Total EUP Cost per equivalent unit Costs accounted for Mar. 31 $ Finished Goods Inventory Work-in-Process Inventory-Bottling $ 180,000 $ 0.77 $ Completed and transferred out Ending work-in-process Total costs accounted for Requirement 2. Prepare the journal entry to record the cost of units completed and transferred out. (Record debits first, th Date Accounts Credit Debit 203,050 119,350 $ 19,250 138,600 S 155,000 0.18 S Work-in-Process Inventory-Bottling 172,500 0 36 27,900 S 0 27,900 S 55,800 $ 203,050 6,300 25.550 62,100 $ 228,600 203,050 Data table Beginning inventory, Mar. 1 (40% complete) Production started Transferred out Ending inventory, Mar. 31 (70% complete) Blue Water Company Work in Process Inventory-Bottling Month Ended March 31, 2024 - Transferred Direct In Materials Units 18,000 S 162,000 155,000 25,000 Print 1,200 137,400 S Done Dollars Direct Manufacturing Total Overhead Labor Costs S 600 S 27,900 33,500 530 S 2,330 27,470 226,270 Requirement 3. Post all transactions to the Work-in-Process Inventory Bottling T-account. What is the ending balance? Enter the beginning balance, "Bal. Feb. 28", and then post all transactions to the Work-in-Process Inventory Bottling T-account using the appropriate descriptions as posting references. Calculate and enter the ending balance of the account, "Bal Mar. 31", on the appropriate side of the T-account. - X
Transcribed Image Text:Blue Water Company produces premium bottled water. In the second department, the Bottling Department, conversion costs are incurred evenly throughout the bottling process, but packaging materials are not added until the end of the process. Costs in beginning Work-in-Process Inventory include transferred in costs of $1,200, direct labor of $600, and manufacturing overhead of $530 March data for the Bottling Department follow (Click the icon to view the data.) Read the requirements Divided by: Total EUP Cost per equivalent unit Costs accounted for Mar. 31 $ Finished Goods Inventory Work-in-Process Inventory-Bottling $ 180,000 $ 0.77 $ Completed and transferred out Ending work-in-process Total costs accounted for Requirement 2. Prepare the journal entry to record the cost of units completed and transferred out. (Record debits first, th Date Accounts Credit Debit 203,050 119,350 $ 19,250 138,600 S 155,000 0.18 S Work-in-Process Inventory-Bottling 172,500 0 36 27,900 S 0 27,900 S 55,800 $ 203,050 6,300 25.550 62,100 $ 228,600 203,050 Data table Beginning inventory, Mar. 1 (40% complete) Production started Transferred out Ending inventory, Mar. 31 (70% complete) Blue Water Company Work in Process Inventory-Bottling Month Ended March 31, 2024 - Transferred Direct In Materials Units 18,000 S 162,000 155,000 25,000 Print 1,200 137,400 S Done Dollars Direct Manufacturing Total Overhead Labor Costs S 600 S 27,900 33,500 530 S 2,330 27,470 226,270 Requirement 3. Post all transactions to the Work-in-Process Inventory Bottling T-account. What is the ending balance? Enter the beginning balance, "Bal. Feb. 28", and then post all transactions to the Work-in-Process Inventory Bottling T-account using the appropriate descriptions as posting references. Calculate and enter the ending balance of the account, "Bal Mar. 31", on the appropriate side of the T-account. - X
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