Question 7 Part 3. Was partially completed. Please fill in the blanks in the same format as the question UNITSBeginning Work-in-Process Inventory75 rollsTransferred in from Spinning Department during July590 rollsCompleted during July550 rollsEnding Work-in-Process (80% complete for conversion work)115 rollsCOSTSBeginning Work-in-Process Inventory (transferred in costs, $3,700;materials cost, $1,450; conversion costs, $4,950)10,100Transferred in from Spinning Department21,570Materials cost added during JulyConversion costs added during July (manufacturing wages,$8,050; manufacturing overhead allocated, $45,422)11,18553,472 Casey Carpet manufactures broadloom carpet in seven processes: spinning, dyeing, plying, spooling, tufting, latexing and shearing. In the Dyeing Department, direct materials (dye) are added at the beginning of the process. Conversion costsare incurred evenly throughout the process. Information for July 2018 follows:E (Click the icon to view the data.)Read the requirements.TransferredDirectConversionTotalCOSTSInMaterialsCostsCostsCosts to account for::Beginning work-in-process$3,700 $1,450 $4,950 $10,100Costs added during the period21,57011,18553,47286,227Total costs to account for$25,270 $12,635 $58,422 $96.327665665642Divided by: Total EUP$38.00 $19.00 $91.00Cost per equivalent unitCosts accounted for:Beginning work-in-process37001450495010100Costs added during the period21570111855347286227$25,270 $12,635 $58,422 $96,327Total costs accounted for

Name: Question 7 Part 3. Was partially completed. Please fill in the blanks
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Description: Question 7 Part 3. Was partially completed. Please fill in the blanks in the same format as the question UNITSBeginning Work-in-Process Inventory75 rollsTransferred in from Spinning Department during July590 rollsCompleted during July550 rollsEnding

First compute equivalent units for transferred in costs, direct materials and conversion costs as…

Business

Accounting

UNITS Beginning Work-in-Process Inventory 75 rolls Transferred in from Spinning Department during July 590 rolls Completed during July 550 rolls Ending Work-in-Process (80% complete for conversion work) 115 rolls COSTS Beginning Work-in-Process Inventory (transferred in costs, $3,700; materials cost, $1,450; conversion costs, $4,950) 10,100 Transferred in from Spinning Department 21,570 Materials cost added during July Conversion costs added during July (manufacturing wages, $8,050; manufacturing overhead allocated, $45,422) 11,185 53,472

UNITS Beginning Work-in-Process Inventory 75 rolls Transferred in from Spinning Department during July 590 rolls Completed during July 550 rolls Ending Work-in-Process (80% complete for conversion work) 115 rolls COSTS Beginning Work-in-Process Inventory (transferred in costs, $3,700; materials cost, $1,450; conversion costs, $4,950) 10,100 Transferred in from Spinning Department 21,570 Materials cost added during July Conversion costs added during July (manufacturing wages, $8,050; manufacturing overhead allocated, $45,422) 11,185 53,472

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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