If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent.Pittsburgh Aluminum CompanyCost of Production Report-Rolling DepartmentFor the Month Ended September 30Whole UnitsEquivalent UnitsDirectConversionUnitsMaterials (a)(a)Units charged to production:Inventory in process, September 1Received from Smelting DepartmentTotal units accounted for by the Rolling DepartmentUnits to be assigned costs:Inventory in process, September 1Started and completed in SeptemberTransferred to finished goods in SeptemberInventory in process, September 30Total units to be assigned costs Work in Process Account Data for Two Months; Cost of Production ReportsPittsburgh Aluminum Company uses a process cost system to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes.Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process-Rolling on September 1 and debits to the account duringSeptember were as follows:Bal., 1,200 units, 60% completed:Direct materials (1,200 x $3.6)$ 4,320Conversion (1,200 x 60% x $1.5)1,080$ 5,400From Smelting Department, 27,000 units$99,900Direct labor25,667Factory overhead13,821During September, 1,200 units in process on September 1 were completed, and of the 27,000 units entering the department, all were completed except 3,500 units thatwere 20% completed. Charges to Work in Process-Rolling for October were as follows:From Smelting Department, 31,000 units$120,900Direct labor35,450Factory overhead19,086During October, the units in process at the beginning of the month were completed, and of the 31,000 units entering the department, all were completed except 1,600units that were 80% completed.

Equivalent units of products concept came in to existence when some units are not fully completed at…

f an amount is zero, enter in a zero "0". Round cost per unit ansswers to the nearest cent. Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30 Whole Units Equivalent Units Direct Conversion Units Materials (a) (a) Units charged to production: Inventory in process, September 1 Received from Smelting Department Total units accounted for by the Rolling Department Units to be assigned costs: Inventory in process, September 1 Started and completed in September Transferred to finished goods in September Inventory in process, September 30 Total units to be assigned costs

f an amount is zero, enter in a zero "0". Round cost per unit ansswers to the nearest cent. Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30 Whole Units Equivalent Units Direct Conversion Units Materials (a) (a) Units charged to production: Inventory in process, September 1 Received from Smelting Department Total units accounted for by the Rolling Department Units to be assigned costs: Inventory in process, September 1 Started and completed in September Transferred to finished goods in September Inventory in process, September 30 Total units to be assigned costs

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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Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $1.05 and $0.80, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, July 1 0 3,500 Started and completed during July 50,000 50,000 Transferred out of Rolling (completed) 50,000 53,500 Inventory in process, July 31 5,000 2,000 Total units to be assigned costs 55,000 55,500 The beginning work in process inventory on July 1 had a cost of $2,000. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production $fill in the blank 1 Inventory in process, ending $fill in the blank 2 Total costs assigned by the Rolling Department $fill in the blank 3
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Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.55 and $2.55, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 0 4,100 Started and completed during October 59,000 59,000 Transferred out of Rolling (completed) 59,000 63,100 Inventory in process, October 31 7,000 3,500 Total units to be assigned costs 66,000 66,600 The beginning work in process inventory on October 1 had a cost of $2,500. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department
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Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $2.35 and $0.70, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Equivalent Units Direct Materials 0 Equivalent Units Conversion 3,200 54,000 54,000 54,000 7,000 Total units to be assigned costs 61,000 The beginning work in process inventory on October 1 had a cost of $2,080. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 57,200 2,100 59,300
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