Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses a process cost system 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., 1,200 units, 70% completed:     Direct materials (1,200 x $7.70) $ 9,240   Conversion (1,200 x 70% x $3.20) 2,688   $ 11,928 From Smelting Department, 26,400 units $205,920 Direct labor 51,542 Factory overhead 27,754 During September, 1,200 units in process on September 1 were completed, and of the 26,400 units entering the department, all were completed except 3,300 units that were 40% completed. Charges to Work in Process—Rolling for October were as follows: From Smelting Department, 30,400 units $243,200 Direct labor 68,730 Factory overhead 37,010 During October, the units in process at the beginning of the month were completed, and of the 30,400 units entering the department, all were completed except 1,600 units that were 20% 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   ACCOUNT NO.     BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Sept. 1 Bal., 1,200 units, 70% completed   fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 Sept. 30 Smelting Dept., 26,400 units at $7.8   fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Sept. 30 Direct labor   fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Sept. 30 Factory overhead   fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Sept. 30 Finished goods   fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 Sept. 30 Bal., 3,300 units, 40% completed   fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24   If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent.   Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30   Whole Units Equivalent Units Units   Direct Materials (a) Conversion (a) Units charged to production:       Inventory in process, September 1 fill in the blank 25     Received from Smelting Department fill in the blank 26     Total units accounted for by the Rolling Department fill in the blank 27     Units to be assigned costs:       Inventory in process, September 1 fill in the blank 28 fill in the blank 29 fill in the blank 30 Started and completed in September fill in the blank 31 fill in the blank 32 fill in the blank 33 Transferred to finished goods in September fill in the blank 34 fill in the blank 35 fill in the blank 36 Inventory in process, September 30 fill in the blank 37 fill in the blank 38 fill in the blank 39 Total units to be assigned costs fill in the blank 40 fill in the blank 41 fill in the blank 42   Costs Costs   Direct Materials   Conversion   Total Costs Cost per equivalent unit:                         Total costs for September in Rolling Department   $fill in the blank 43       $fill in the blank 44             Total equivalent units   fill in the blank 45       fill in the blank 46             Cost per equivalent unit (b)   $fill in the blank 47       $fill in the blank 48             Costs assigned to production:                         Inventory in process, September 1                   $fill in the blank 49     Costs incurred in September                   fill in the blank 50     Total costs accounted for by the Rolling Department                   $fill in the blank 51     Costs allocated to completed and partially completed units:                         Inventory in process, September 1 balance (c)                   $fill in the blank 52     To complete inventory in process, September 1 (c)   $fill in the blank 53       $fill in the blank 54       fill in the blank 55     Cost of completed September 1 work in process                   $fill in the blank 56     Started and completed in September (c)   $fill in the blank 57       fill in the blank 58       fill in the blank 59     Transferred to finished goods in September (c)                   $fill in the blank 60     Inventory in process, September 30 (d)   fill in the blank 61       fill in the blank 62       fill in the blank 63     Total costs assigned by the Rolling Department                   $fill in the blank 64

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

Pittsburgh Aluminum Company uses a process cost system 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., 1,200 units, 70% completed:  
  Direct materials (1,200 x $7.70) $ 9,240
  Conversion (1,200 x 70% x $3.20) 2,688
  $ 11,928
From Smelting Department, 26,400 units $205,920
Direct labor 51,542
Factory overhead 27,754

During September, 1,200 units in process on September 1 were completed, and of the 26,400 units entering the department, all were completed except 3,300 units that were 40% completed. Charges to Work in Process—Rolling for October were as follows:

From Smelting Department, 30,400 units $243,200
Direct labor 68,730
Factory overhead 37,010

During October, the units in process at the beginning of the month were completed, and of the 30,400 units entering the department, all were completed except 1,600 units that were 20% 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   ACCOUNT NO.  
  BALANCE
DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT
Sept. 1 Bal., 1,200 units, 70% completed   fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4
Sept. 30 Smelting Dept., 26,400 units at $7.8   fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8
Sept. 30 Direct labor   fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12
Sept. 30 Factory overhead   fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16
Sept. 30 Finished goods   fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20
Sept. 30 Bal., 3,300 units, 40% completed   fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24

 

If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent.

 

Pittsburgh Aluminum Company
Cost of Production Report-Rolling Department
For the Month Ended September 30
  Whole Units Equivalent Units
Units   Direct Materials (a) Conversion (a)
Units charged to production:      
Inventory in process, September 1 fill in the blank 25    
Received from Smelting Department fill in the blank 26    
Total units accounted for by the Rolling Department fill in the blank 27    
Units to be assigned costs:      
Inventory in process, September 1 fill in the blank 28 fill in the blank 29 fill in the blank 30
Started and completed in September fill in the blank 31 fill in the blank 32 fill in the blank 33
Transferred to finished goods in September fill in the blank 34 fill in the blank 35 fill in the blank 36
Inventory in process, September 30 fill in the blank 37 fill in the blank 38 fill in the blank 39
Total units to be assigned costs fill in the blank 40 fill in the blank 41 fill in the blank 42



  Costs
Costs   Direct Materials   Conversion   Total Costs
Cost per equivalent unit:                        
Total costs for September in Rolling Department   $fill in the blank 43       $fill in the blank 44            
Total equivalent units   fill in the blank 45       fill in the blank 46            
Cost per equivalent unit (b)   $fill in the blank 47       $fill in the blank 48            
Costs assigned to production:                        
Inventory in process, September 1                   $fill in the blank 49    
Costs incurred in September                   fill in the blank 50    
Total costs accounted for by the Rolling Department                   $fill in the blank 51    
Costs allocated to completed and partially completed units:                        
Inventory in process, September 1 balance (c)                   $fill in the blank 52    
To complete inventory in process, September 1 (c)   $fill in the blank 53       $fill in the blank 54       fill in the blank 55    
Cost of completed September 1 work in process                   $fill in the blank 56    
Started and completed in September (c)   $fill in the blank 57       fill in the blank 58       fill in the blank 59    
Transferred to finished goods in September (c)                   $fill in the blank 60    
Inventory in process, September 30 (d)   fill in the blank 61       fill in the blank 62       fill in the blank 63    
Total costs assigned by the Rolling Department                   $fill in the blank 64    

 

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