Sherri Springs is a producer of flavored water. Below is the data for its production in April.DescriptionAmountSubcategory,Work in process inventory, April 1, has 2,870 (units' equal cases):Direct Materials12,990Direct labor5,910Manufacturing overhead (1,520 machine-hours at $6 per machine-hours)9,120Single line Single line28,020Double line Subcategory,Units started in April8,980 Subcategory,Costs incurred in April:Direct Materials36,150Direct labor55,880Manufacturing overhead applied (13,400 machine-hours)80,400 The ending inventory consisted of 4,690 units. These units were: 100% complete as to materials, 60% complete as to conversion.Complete a production report using the weighted average method.(Round your answers to two decimal places when needed and use rounded answers for all future calculations). UNITSUnits to accountfor:Beginning work-in-processStarted inproductionTotal units toaccount forUnits accountedfor:Completed andtransferred outEnding work-in-processTotal unitsaccounted forCOSTSCosts toaccountfor:Beginningwork-in-processCostsaddedduringperiodTotalcosts toaccountforDivided by:Total EUPCost perequivalentunitCostsaccountedfor:CompletedandtransferredoutEndingwork-in-processTotalcostsaccountedfor◄Whole UnitsTransferredIn2,870✔8,980✔11,850✔Sherri SpringsTransferredIn7,160 n/a4,690 n/a11,850 n/aSherri Springs12,990.00✓36,150.00✔49,140.00✔Direct Materials Conversion Costs11,850 ✓4.15✓29,691 X19,449 XEquivalent UnitsDirectMaterial49,140.00 X7,160✔4,690✔11,850✓15,030.00✔136,280.00✔151,310.00✓9,974✔15.17 ✔108,620 X42,690 X151,310.00 XConversionCosts7,160 ✓2,814 ✓9,974✔Total Costs28,020.00✔172,430.00✓200,450.00✓19.32✓138,312 X62,138 X200,450.00 X

The production report is prepared under the weighted average method by ignoring the work done on the…

Answered: Sherri Springs is a producer of…

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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Question

Sherri Springs is a producer of flavored water. Below is the data for its production in April.

Description	Amount
Subcategory,Work in process inventory, April 1, has 2,870 (units' equal cases):
Direct Materials	12,990
Direct labor	5,910
Manufacturing overhead (1,520 machine-hours at $6 per machine-hours)	9,120Single line
	Single line28,020Double line

Subcategory,
Units started in April	8,980

Subcategory,Costs incurred in April:
Direct Materials	36,150
Direct labor	55,880
Manufacturing overhead applied (13,400 machine-hours)	80,400

The ending inventory consisted of 4,690 units. These units were: 100% complete as to materials, 60% complete as to conversion.

Complete a production report using the weighted average method.

(Round your answers to two decimal places when needed and use rounded answers for all future calculations).

UNITS
Units to account
for:
Beginning work-
in-process
Started in
production
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
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
◄
Whole Units
Transferred
In
2,870✔
8,980✔
11,850✔
Sherri Springs
Transferred
In
7,160 n/a
4,690 n/a
11,850 n/a
Sherri Springs
12,990.00✓
36,150.00✔
49,140.00✔
Direct Materials Conversion Costs
11,850 ✓
4.15✓
29,691 X
19,449 X
Equivalent Units
Direct
Material
49,140.00 X
7,160✔
4,690✔
11,850✓
15,030.00✔
136,280.00✔
151,310.00✓
9,974✔
15.17 ✔
108,620 X
42,690 X
151,310.00 X
Conversion
Costs
7,160 ✓
2,814 ✓
9,974✔
Total Costs
28,020.00✔
172,430.00✓
200,450.00✓
19.32✓
138,312 X
62,138 X
200,450.00 X

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