Two department costing for Always Christmas Always Christmas makes artincial Christmas trees in two departments: Cutting and Boxing. In the Cutting Department, wire wrapped with green "needles" is placed into production at the beginning of the process and is cut to various lengths. The "branches" are then transferred to the Boxing Department, where the lengths are separated into the necessary groups to make a tree. The limbs" are then placed in boxes and immediatelv sent to Finished Goods. The following data are available related to the October production in each of the two departments: Perçent of Completion Material Units Transferred Conversion In Cutting Department Beginning WIP Inventory Started in process 8,000 N/A 100 40 36,000 Ending inventory Boxing Department Beginning WIP Inventory 3,600 N/A 100 70 2,500 100 65 Transferred in ? Ending inventory 1,200 100 70 Costs Transferred Material Conversion in Cutting Department Beginning WIP Inventory N/A $293,000 $80,000 Current Period N/A $1,379,000 $1,293,440 Cutting Department Beginning WIP Inventory $166,420 $0 $6,993 Current Period ? $383,640 $246,120
Two department costing for Always Christmas Always Christmas makes artincial Christmas trees in two departments: Cutting and Boxing. In the Cutting Department, wire wrapped with green "needles" is placed into production at the beginning of the process and is cut to various lengths. The "branches" are then transferred to the Boxing Department, where the lengths are separated into the necessary groups to make a tree. The limbs" are then placed in boxes and immediatelv sent to Finished Goods. The following data are available related to the October production in each of the two departments: Perçent of Completion Material Units Transferred Conversion In Cutting Department Beginning WIP Inventory Started in process 8,000 N/A 100 40 36,000 Ending inventory Boxing Department Beginning WIP Inventory 3,600 N/A 100 70 2,500 100 65 Transferred in ? Ending inventory 1,200 100 70 Costs Transferred Material Conversion in Cutting Department Beginning WIP Inventory N/A $293,000 $80,000 Current Period N/A $1,379,000 $1,293,440 Cutting Department Beginning WIP Inventory $166,420 $0 $6,993 Current Period ? $383,640 $246,120
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Instructions: Using formulas/functions wherever possible, complete the following on the Input Tab.
1. Prepare a cost of production report for the Cutting Department assuming a FIFO method.
2. Using the data developed from (1), prepare a cost of production report for the Boxing Department assuming a FIFO method.
Transcribed Image Text:Two department costing for Always Christmas
Always Christmas makes artincial Christmas trees in two departments: Cutting and Boxing. In the
Cutting Department, wire wrapped with green "needles" is placed into production at the beginning of
the process and is cut to various lengths. The "branches" are then transferred to the Boxing
Department, where the lengths are separated into the necessary groups to make a tree. The limbs" are
then placed in boxes and immediatelv sent to Finished Goods.
The following data are available related to the October production in each of the two departments:
Perçent of Completion
Material
Units
Transferred
Conversion
In
Cutting Department
Beginning WIP Inventory
Started in process
8,000
N/A
100
40
36,000
Ending inventory
Boxing Department
Beginning WIP Inventory
3,600
N/A
100
70
2,500
100
65
Transferred in
?
Ending inventory
1,200
100
70
Costs
Transferred
Material
Conversion
in
Cutting Department
Beginning WIP Inventory
N/A
$293,000
$80,000
Current Period
N/A
$1,379,000
$1,293,440
Cutting Department
Beginning WIP Inventory
$166,420
$0
$6,993
Current Period
?
$383,640
$246,120
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