Units Units charged to production: Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30 Inventory in process, September 1 Received from Smelting Department Total units accounted for by the Rolling Department Units to be assigned costs: Inventory in process, September 1 Started and completed in September Transferred to finished goods in September Inventory in process, September 30 Total units to be assigned costs Equivalent Units Whole Units Direct Materials (a) Equivalent Units Conversion (a) Costs Cost per equivalent unit: Total costs for September in Rolling Department Total equivalent units Cost per equivalent unit (b) Costs assigned to production: Inventory in process, September 1 Costs incurred in September Total costs accounted for by the Rolling Department Costs allocated to completed and partially completed units: Inventory in process, September 1 balance (c) To complete inventory in process, September 1 (c) Cost of completed September 1 work in process Started and completed in September (c) Transferred to finished goods in September (c) Inventory in process, September 30 (d) Total costs assigned by the Rolling Department Costs Direct Materials Conversion Total ☐ ☐ ☐ Q ☐ ☐ Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses process costing to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process-Rolling on September 1 and debits to the account during September were as follows: Bal., 2,600 units, 14 completed: Direct materials (2,600 x $15.50) Conversion (2,600 × 14 × $8.50) $40,300 5,525 From Smelting Department, 28,900 units Direct labor Factory overhead $45,825 $462,400 158,920 101,402 During September, 2,600 units in process on September 1 were completed, and of the 28,900 units entering the department, all were completed except 2,900 units that were 4/5 completed. Charges to Work in Process-Rolling for October were as follows: From Smelting Department, 31,000 units Direct labor $511,500 162,850 Factory overhead 104,494 During October, the units in process at the beginning of the month were completed, and of the 31,000 units entering the department, all were completed except 2,000 units that were 2/5 completed. Required: 1. Enter the balance as of September 1 in a four-column account for Work in Process-Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Rolling Department DATE ITEM September 1 Bal., 2,600 units, 1/4 completed September 30 Smelting Dept., 28,900 units at $16.00/unit September 30 Direct labor September 30 Factory overhead September 30 Finished goods September 30 Bal., 2,900 units, 4/5 completed ACCOUNT NO. POST. REF. DEBIT CREDIT BALANCE DEBIT BALANCE CREDIT If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent.

Units Units charged to production: Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30 Inventory in process, September 1 Received from Smelting Department Total units accounted for by the Rolling Department Units to be assigned costs: Inventory in process, September 1 Started and completed in September Transferred to finished goods in September Inventory in process, September 30 Total units to be assigned costs Equivalent Units Whole Units Direct Materials (a) Equivalent Units Conversion (a) Costs Cost per equivalent unit: Total costs for September in Rolling Department Total equivalent units Cost per equivalent unit (b) Costs assigned to production: Inventory in process, September 1 Costs incurred in September Total costs accounted for by the Rolling Department Costs allocated to completed and partially completed units: Inventory in process, September 1 balance (c) To complete inventory in process, September 1 (c) Cost of completed September 1 work in process Started and completed in September (c) Transferred to finished goods in September (c) Inventory in process, September 30 (d) Total costs assigned by the Rolling Department Costs Direct Materials Conversion Total ☐ ☐ ☐ Q ☐ ☐ Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses process costing to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process-Rolling on September 1 and debits to the account during September were as follows: Bal., 2,600 units, 14 completed: Direct materials (2,600 x $15.50) Conversion (2,600 × 14 × $8.50) $40,300 5,525 From Smelting Department, 28,900 units Direct labor Factory overhead $45,825 $462,400 158,920 101,402 During September, 2,600 units in process on September 1 were completed, and of the 28,900 units entering the department, all were completed except 2,900 units that were 4/5 completed. Charges to Work in Process-Rolling for October were as follows: From Smelting Department, 31,000 units Direct labor $511,500 162,850 Factory overhead 104,494 During October, the units in process at the beginning of the month were completed, and of the 31,000 units entering the department, all were completed except 2,000 units that were 2/5 completed. Required: 1. Enter the balance as of September 1 in a four-column account for Work in Process-Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Rolling Department DATE ITEM September 1 Bal., 2,600 units, 1/4 completed September 30 Smelting Dept., 28,900 units at $16.00/unit September 30 Direct labor September 30 Factory overhead September 30 Finished goods September 30 Bal., 2,900 units, 4/5 completed ACCOUNT NO. POST. REF. DEBIT CREDIT BALANCE DEBIT BALANCE CREDIT If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 4PB: Work in process account data for two months; cost of production reports Pittsburgh Aluminum Company...

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Work in Process Account Data for Two Months; Cost of Production Reports

Pittsburgh Aluminum Company uses process costing to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process—Rolling on September 1 and debits to the account during September were as follows:

Units
Units charged to production:
Pittsburgh Aluminum Company
Cost of Production Report-Rolling Department
For the Month Ended September 30
Inventory in process, September 1
Received from Smelting Department
Total units accounted for by the Rolling Department
Units to be assigned costs:
Inventory in process, September 1
Started and completed in September
Transferred to finished goods in September
Inventory in process, September 30
Total units to be assigned costs
Equivalent Units
Whole Units Direct Materials (a)
Equivalent Units
Conversion (a)
Costs
Cost per equivalent unit:
Total costs for September in Rolling Department
Total equivalent units
Cost per equivalent unit (b)
Costs assigned to production:
Inventory in process, September 1
Costs incurred in September
Total costs accounted for by the Rolling Department
Costs allocated to completed and partially completed units:
Inventory in process, September 1 balance (c)
To complete inventory in process, September 1 (c)
Cost of completed September 1 work in process
Started and completed in September (c)
Transferred to finished goods in September (c)
Inventory in process, September 30 (d)
Total costs assigned by the Rolling Department
Costs
Direct Materials
Conversion
Total
☐ ☐ ☐
Q ☐ ☐

Work in Process Account Data for Two Months; Cost of Production Reports
Pittsburgh Aluminum Company uses process costing to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process-Rolling on September 1 and debits to the
account during September were as follows:
Bal., 2,600 units, 14 completed:
Direct materials (2,600 x $15.50)
Conversion (2,600 × 14 × $8.50)
$40,300
5,525
From Smelting Department, 28,900 units
Direct labor
Factory overhead
$45,825
$462,400
158,920
101,402
During September, 2,600 units in process on September 1 were completed, and of the 28,900 units entering the department, all were completed except 2,900 units that were 4/5 completed.
Charges to Work in Process-Rolling for October were as follows:
From Smelting Department, 31,000 units
Direct labor
$511,500
162,850
Factory overhead
104,494
During October, the units in process at the beginning of the month were completed, and of the 31,000 units entering the department, all were completed except 2,000 units that were 2/5 completed.
Required:
1. Enter the balance as of September 1 in a four-column account for Work in Process-Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs
per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank.
ACCOUNT
Work in Process-Rolling Department
DATE
ITEM
September 1
Bal., 2,600 units, 1/4 completed
September 30
Smelting Dept., 28,900 units at $16.00/unit
September 30
Direct labor
September 30
Factory overhead
September 30
Finished goods
September 30
Bal., 2,900 units, 4/5 completed
ACCOUNT NO.
POST. REF. DEBIT
CREDIT
BALANCE
DEBIT
BALANCE
CREDIT
If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent.

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