Please do parts 4 and 5. spooled onto reels. The company uses the weighted-average method in its process costing system. Data tor March tor the DryingDepartment follow:Percent CompletedConversion80%UnitsPuipingWork 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 March3,5005,500100%100%70%1,645$ 1,050154,900$78,555$ 52,925No materials are added in the Drying Department. Pulping cost represerts the costs of the wet fibers transferrea 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:1. Compute the Drying Department's equivalent units of production for pulping and conversion in Marc2. Compute the Drying Department's cost per equivalent unit for pulping and conversion in March3. Compute the Drying Department's cost of ending work in process inventory for pulping,4. Compute the Drying Department's cost of units transferred out to the Finishing Department for pulping conversion, and in total inMarch.nversion, and in total fon March5. Prepare a cost reconciliation report for the Drying Department for March.Answer is not complete.Complete this question by entering your answers in the tabs below.Required 1Required 2Required 3Required 4Required 5Compute the Drying Department's equivalent units of production for pulping andiconversionlin March!PulpingConversionEquivalent units of production< Required 1Required 2 >

The question is based on the concept of Cost Accounting.

spooled onto reels. The company uses the weighted-average method in its process costing system. Data tor March tor the Drying Department follow: Percent Completed Puiping 100% 100% Units Conversion Work in process inventory, March 1 Work in process inventory, March 31 Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, March 1 Units transferred to the next production department Pulping cost added during March Conversion cost added during March 80% 3,500 5,500 70% 1,645 1,050 154,900 $78,555 $ 52,925 No materials are added in the Drying Department. Pulping cost represerts the costs of the wet fibers transferred in from the Pulping Department. Wet fiber is processed in the Drying Department in batches: each unit in the above table is a batch and ane batch of wet fibers produces a set amount of dried paper that is passed on to the Finishina

spooled onto reels. The company uses the weighted-average method in its process costing system. Data tor March tor the Drying Department follow: Percent Completed Puiping 100% 100% Units Conversion Work in process inventory, March 1 Work in process inventory, March 31 Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, March 1 Units transferred to the next production department Pulping cost added during March Conversion cost added during March 80% 3,500 5,500 70% 1,645 1,050 154,900 $78,555 $ 52,925 No materials are added in the Drying Department. Pulping cost represerts the costs of the wet fibers transferred in from the Pulping Department. Wet fiber is processed in the Drying Department in batches: each unit in the above table is a batch and ane batch of wet fibers produces a set amount of dried paper that is passed on to the Finishina

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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