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Windsor Corp. manufactures kitchen appliances and gadgets, like coffee makers and can openers. Recently, the company ramped up production of its iced coffee brewer, anticipating increasing demand in the market. For the month of April, Windsor reported the following activity and cost information for its only production process dedicated to these coffee brewers. Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion Units 700 14,700 14,500 900 Plastic 100% $3,472 $79,380 100% Mesh The conversion costs are added evenly throughout this manufacturing process. 100% $315 $6,210 0% Conversion Costs 70% $1,757 $94,248 30%

Windsor Corp. manufactures kitchen appliances and gadgets, like coffee makers and can openers. Recently, the company ramped up production of its iced coffee brewer, anticipating increasing demand in the market. For the month of April, Windsor reported the following activity and cost information for its only production process dedicated to these coffee brewers. Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion Units 700 14,700 14,500 900 Plastic 100% $3,472 $79,380 100% Mesh The conversion costs are added evenly throughout this manufacturing process. 100% $315 $6,210 0% Conversion Costs 70% $1,757 $94,248 30%

FINANCIAL ACCOUNTING
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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(c) (b) At approximately what stage of processing is the plastic material added to the units? At approximately what stage of processing is the mesh material added to the units? (c) List of Accounts Save for Later Text Assuming instead that Windsor Corp. uses the weighted-average method of process costing, complete Steps 1 to 5 in the template to determine the cost of units completed in April as well as the cost of units in ending WIP Inventory in April. (Round cost per equivalent unit to 2 decimal places, eg. 15.25 and final answers to O decimal places, eg. 5,125.) Total cost of units completed Cost of units in ending WIP Inventory $ $ Account Titles and Explanation List of Accounts Record the journal entry to recognize the cost of units completed and transferred out of the manufacturing process this month. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Attempts: 0 of 2 used Submit Answer Debit Credit
Transcribed Image Text:(c) (b) At approximately what stage of processing is the plastic material added to the units? At approximately what stage of processing is the mesh material added to the units? (c) List of Accounts Save for Later Text Assuming instead that Windsor Corp. uses the weighted-average method of process costing, complete Steps 1 to 5 in the template to determine the cost of units completed in April as well as the cost of units in ending WIP Inventory in April. (Round cost per equivalent unit to 2 decimal places, eg. 15.25 and final answers to O decimal places, eg. 5,125.) Total cost of units completed Cost of units in ending WIP Inventory $ $ Account Titles and Explanation List of Accounts Record the journal entry to recognize the cost of units completed and transferred out of the manufacturing process this month. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Attempts: 0 of 2 used Submit Answer Debit Credit
Current Attempt in Progress Windsor Corp. manufactures kitchen appliances and gadgets, like coffee makers and can openers. Recently, the company ramped up production of its iced coffee brewer, anticipating increasing demand in the market. For the month of April, Windsor reported the following activity and cost information for its only production process dedicated to these coffee brewers. (a) Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion (a) Total cost of units completed D Cost of units in ending WIP Inventory $ List of Accounts Units $ Save for Later 700 14,700 The conversion costs are added evenly throughout this manufacturing process. 14,500 900 Plastic 100% $3,472 100% Mesh $79.380 $6,210 100% $315 Debit 0% Assuming Windsor Corp. uses the FIFO method of process costing, complete Steps 1 to 5 in the template to determine the cost of units completed in April as well as the cost of units in ending WIP Inventory in April. (Round cost per equivalent unit to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,125.) Conversion Costs 70% $1,757 $94,248 Record the journal entry to recognize the cost of units completed and transferred out of the manufacturing process this month. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Account Titles and Explanation 30% Credit Attempts: 0 of 2 used Submit Answer
Transcribed Image Text:Current Attempt in Progress Windsor Corp. manufactures kitchen appliances and gadgets, like coffee makers and can openers. Recently, the company ramped up production of its iced coffee brewer, anticipating increasing demand in the market. For the month of April, Windsor reported the following activity and cost information for its only production process dedicated to these coffee brewers. (a) Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion (a) Total cost of units completed D Cost of units in ending WIP Inventory $ List of Accounts Units $ Save for Later 700 14,700 The conversion costs are added evenly throughout this manufacturing process. 14,500 900 Plastic 100% $3,472 100% Mesh $79.380 $6,210 100% $315 Debit 0% Assuming Windsor Corp. uses the FIFO method of process costing, complete Steps 1 to 5 in the template to determine the cost of units completed in April as well as the cost of units in ending WIP Inventory in April. (Round cost per equivalent unit to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,125.) Conversion Costs 70% $1,757 $94,248 Record the journal entry to recognize the cost of units completed and transferred out of the manufacturing process this month. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Account Titles and Explanation 30% Credit Attempts: 0 of 2 used Submit Answer
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