Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the PulpingDepartment, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. Theresult is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down onporous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, andspooled onto reels. The company uses the weighted-average method in its process costing system. Data for March for the DryingDepartment follow:Work in process inventory, March 1Work in process inventory, March 31Pulping cost in work in process inventory, March 1Conversion cost in work in process inventory, March 1Units transferred to the next production departmentPulping cost added during MarchConversion cost added during MarchComplete this question by entering your answers in the tabs below.Required 1No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the PulpingDepartment. Wet fiber is processed in the Drying Department in batches; each unit in the above table is a batch and one batch of wetfibers produces a set amount of dried paper that is passed on to the Finishing Department.Required 2Required:1. Compute the Drying Department's equivalent units of production for pulping and conversion in March.2. Compute the Drying Department's cost per equivalent unit for pulping and conversion in March.3. Compute the Drying Department's cost of ending work in process inventory for pulping, conversion, and in total for March.4. Compute the Drying Department's cost of units transferred out to the Finishing Department for pulping, conversion, and in total inMarch.5. Prepare a cost reconciliation report for the Drying Department for March.Required 3.Required 4Units4,100Pulping100%8,000 100%Required 5< PrevPercent CompletedConversion5 of 5i80%75%$ 1,517$779140,300$ 56,320$ 32,870Next >

Name: Scribners Corporation produces fine papers in three production depart
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the PulpingDepartment, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. Th