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SureRock Inc. manufactures curling rocks which are used worldwide in curling rinks and for bonspiels and tournaments. SureRock has a single production department, the Assembly department, which is highly automated to ensure that the curling rocks are of consistent quality. Production begins by the introduction of all the raw materials (granite, electronic sensors, plastics, and adhesives) that are added at the beginning of the process and ends when the completed rock is polished and loaded into individual crates. The rocks are then transferred to the shipping department. Direct labour and manufacturing overhead are added continuously throughout the process. “ Prior to October, when a change in the manufacturing process was implements, production increased significantly. One of the polishing machines was incorrectly calibrated, and it was found that some of the curling rocks incurred small cracks in the granite as a result. Normally, SureRock allows for 2% of good rocks produced. e The data related to the actual production for the month of October is: Costse Work-in-process inventory, October 1e Direct materialse Conversion costse Costs added in month of Maye Direct materialse Direct labour Manufacturing overhead $ 38,400e 33,600 de 371,200 97,440e 227,360e Work-in-process inventory, October 1 (30% completed) Units started in Octobere Units completed and transferred to shipping Work-in-process inventory, October 31 (80% completed)- Unitsde 300e 2,900e 2,500e 550e Required: Prepare a production cost report for October using the weighted-average method.e

SureRock Inc. manufactures curling rocks which are used worldwide in curling rinks and for bonspiels and tournaments. SureRock has a single production department, the Assembly department, which is highly automated to ensure that the curling rocks are of consistent quality. Production begins by the introduction of all the raw materials (granite, electronic sensors, plastics, and adhesives) that are added at the beginning of the process and ends when the completed rock is polished and loaded into individual crates. The rocks are then transferred to the shipping department. Direct labour and manufacturing overhead are added continuously throughout the process. “ Prior to October, when a change in the manufacturing process was implements, production increased significantly. One of the polishing machines was incorrectly calibrated, and it was found that some of the curling rocks incurred small cracks in the granite as a result. Normally, SureRock allows for 2% of good rocks produced. e The data related to the actual production for the month of October is: Costse Work-in-process inventory, October 1e Direct materialse Conversion costse Costs added in month of Maye Direct materialse Direct labour Manufacturing overhead $ 38,400e 33,600 de 371,200 97,440e 227,360e Work-in-process inventory, October 1 (30% completed) Units started in Octobere Units completed and transferred to shipping Work-in-process inventory, October 31 (80% completed)- Unitsde 300e 2,900e 2,500e 550e Required: Prepare a production cost report for October using the weighted-average method.e

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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SureRock Inc. manufactures curling rocks which are used worldwide in curling rinks and for bonspiels and tournaments. SureRock has a single production department, the Assembly department, which is highly automated to ensure that the curling rocks are of consistent quality. Production begins by the introduction of all the raw materials (granite, electronic sensors, plastics, and adhesives) that are added at the beginning of the process and ends when the completed rock is polished and loaded into individual crates. The rocks are then transferred to the shipping department. Direct labour and manufacturing overhead are added continuously throughout the process. e Prior to October, when a change in the manufacturing process was implements, production increased significantly. One of the polishing machines was incorrectly calibrated, and it was found that some of the curling rocks incurred small cracks in the granite as a result. Normally, SureRock allows for 2% of good rocks produced. e The data related to the actual production for the month of October is:e Costse Work-in-process inventory, October 1e Direct materialse $ 38,400e 33,600e Conversion costse Costs added in month of Maye Direct materialse Direct laboure Manufacturing overheade 371,2004e 97,440 227,360e Work-in-process inventory, October 1 (30% completed)e Units started in Octobere Units completed and transferred to shippinge Work-in-process inventory, October 31 (80% completed)= Unitse 300e 2,9004 2,5004e 550e Required: Prepare a production cost report for October using the weighted-average method.e
Transcribed Image Text:SureRock Inc. manufactures curling rocks which are used worldwide in curling rinks and for bonspiels and tournaments. SureRock has a single production department, the Assembly department, which is highly automated to ensure that the curling rocks are of consistent quality. Production begins by the introduction of all the raw materials (granite, electronic sensors, plastics, and adhesives) that are added at the beginning of the process and ends when the completed rock is polished and loaded into individual crates. The rocks are then transferred to the shipping department. Direct labour and manufacturing overhead are added continuously throughout the process. e Prior to October, when a change in the manufacturing process was implements, production increased significantly. One of the polishing machines was incorrectly calibrated, and it was found that some of the curling rocks incurred small cracks in the granite as a result. Normally, SureRock allows for 2% of good rocks produced. e The data related to the actual production for the month of October is:e Costse Work-in-process inventory, October 1e Direct materialse $ 38,400e 33,600e Conversion costse Costs added in month of Maye Direct materialse Direct laboure Manufacturing overheade 371,2004e 97,440 227,360e Work-in-process inventory, October 1 (30% completed)e Units started in Octobere Units completed and transferred to shippinge Work-in-process inventory, October 31 (80% completed)= Unitse 300e 2,9004 2,5004e 550e Required: Prepare a production cost report for October using the weighted-average method.e
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