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 3,060 (units' equal cases): Direct Materials 12,140 Direct labor 6,010 Manufacturing overhead (1,440 machine-hours at $6 per machine-hours) 8,640Single line
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 3,060 (units' equal cases): Direct Materials 12,140 Direct labor 6,010 Manufacturing overhead (1,440 machine-hours at $6 per machine-hours) 8,640Single line
Chapter1: Financial Statements And Business Decisions
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The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Sherri Springs is a producer of flavored water. Below is the data for its production in April.
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).
Sherri Springs
Sherri Springs
| Description | Amount |
|---|---|
| Subcategory,Work in process inventory, April 1, has 3,060 (units' equal cases): | |
| Direct Materials | 12,140 |
| Direct labor | 6,010 |
| Manufacturing |
8,640Single line |
| Single line26,790Double line | |
| Subcategory, | |
| Units started in April | 9,080 |
| Subcategory,Costs incurred in April: | |
| Direct Materials | 37,000 |
| Direct labor | 54,340 |
| Manufacturing overhead applied (13,610 machine-hours) | 81,660 |
The ending inventory consisted of 4,430 units. These units were: 100% complete as to materials, 70% 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).
Sherri Springs
| Equivalent Units | ||||
|---|---|---|---|---|
| UNITS | Whole Units | Transferred In | Direct Material | Conversion Costs |
| Units to account for: | ||||
| Beginning work-in-process | ||||
| Started in production | ||||
| Total units to account for | ||||
| Units accounted for: | ||||
| Completed and transferred out | n/a | |||
| Ending work-in-process | n/a | |||
| Total units accounted for | n/a |
Sherri Springs
| COSTS | Transferred In | Direct Materials | Conversion Costs | Total 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 |
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