Cool and Clear 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 inbeginning Work-in-Process Inventory include transferred in costs of $2,000, direct labor of $700, and manufacturing overhead of $330. March data for the Bottling Department follow:(Click the icon to view the data.)Read the requirementsUND 3Units to account for:Beginning work-in-processTransferred inTotal units to account forUnits accounted for:Completed and transferred outEnding work-in-processTotal units accounted forCOSTSCosts to account for:Beginning work-in-processCosts added during the periodTotal costs to account forDivided by: Total EUPCost per equivalent unitCosts accounted for:Completed and transferred outEnding work-in-processTotal costs accounted forVilla11,000164,000175.000152,00023,000175,000$TransferredIn$III$152,00023,000175,000MULGIRIS2,000 $134,500136,500 $175,0000.78 $152,0000152,0000 $30,40030,400 $152,000PUBLIDirect ConversionMaterialsCosts0.20 $152,00016,100168,100TotalCosts1,030 $ 3,03049,400 214,30050,430 $ 217,330168,1000.30Data tableCool and Clear CompanyWork-in-Process Inventory-BottlingMonth Ended March 31, 2024Beginning inventory, Mar. 1 (40% complete)Production startedTransferred outEnding inventory, Mar. 31 (70% complete)RequirementsTransferred DirectInMaterialsUnits11,000 S164,000152,00023,000Print2,000700 S134,500 $ 30.400 33,900$DollarsDirect Manufacturing TotalLabor OverheadCostsDone1. Prepare a production cost report for the Bottling Department for the month of March. The company usesthe weighted-average method.2. Prepare the journal entry to record the cost of units completed and transferred out.3. Post all transactions to the Work-in-Process Inventory-Bottling T-account. What is the ending balance?- X330 $ 3,03015,500 214,300X

Name: Cool and Clear Company produces premium bottled water. In the second
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Cool and Clear 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

The production cost report is prepared by the management by summarizing costs associated with the…

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Cool and Clear 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 $2,000, direct labor of $700, and manufacturing overhead of $330. March data for the Bottling Department follow. (Click the icon to view the data.) Read the requirements UNITS Units to account for Beginning work-in-process Transferred in Total units to account for Units accounted for Completed and transferred out Ending work-in-process Total units accounted for COSTS Costs to account for Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for VIRLO 11.000 164,000 175,000 152,000 23,000 175.000 $ Transferred In $ *** $ 152,000 23,000 175.000 MULTIDI 2,000 $ 134,500 136,500 $ 175,000 0.78 S 152,000 0 152,000 UUDIO Direct Conversion Costs Materials 0 S 30,400 30,400 S 152,000 0.20 $ 152,000 16.100 168,100 Total Costs 1,030 S 3,030 49,400 214,300 50,430 $ 217,330 168,100 0.30 Data table Cool and Clear 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) Requirements Transferred Direct In Materials Units 11,000 S 164,000 152,000 23.000 Print 700 S 2,000 134,500 S 30,400 33,900 Dollars Direct Manufacturing Overhead Labor $ Done Total Costs 1. Prepare a production cost report for the Bottling Department for the month of March. The company uses the weighted-average method. 2. Prepare the journal entry to record the cost of units completed and transferred out. 3. Post all transactions to the Work-in-Process Inventory-Bottling T-account. What is the ending balance? - X 330 S 3,030 15,500 214,300 - X