Question: Refer to Short Exercises S18-8 and S18-9. Use Complete Foods’s costs per equivalent unit of production for direct materials and conversion costs that you calculated in Short Exercise S18-9.
Calculate the cost of the 38,000 units completed and transferred out and the
24,000 units, 20% complete, in the ending Work-in-Process Inventory.
The cost of 38,000 units completed and transferred out is $49,400 and the cost of 24,000 units is $31,200.
Blue Ridge Mountain Manufacturing had the following transactions related to manufacturing overhead for the year:
1. Incurred manufacturing overhead costs
a. $5,000 in indirect materials
b. $12,500 in indirect labor (credit Wages Payable)
c. $30,600 in machinery depreciation
d. $20,400 in other indirect costs that were paid in cash
2. Allocated manufacturing overhead (use a compound entry)
a. $30,000 to the Mixing Department
b. $37,000 to the Packaging Department
1. Prepare the journal entries for Blue Ridge Mountain Manufacturing.
2. Determine the amount of overallocated or underallocated manufacturing overhead by posting the transactions to the Manufacturing Overhead account. Assume the balance in Manufacturing Overhead on January 1 is $0. Prepare the adjusting entry.
The Packaging Department started the month with 600 units in process, received 1,200 units from the Finishing Department, and transferred 1,500 units to Finished Goods. Direct materials are added at the beginning of the process and conversion costs are incurred evenly. The units still in process at the end of the month are 60% complete for conversion costs. Calculate the number of units still in process at the end of the month and the equivalent units of production. The company uses the weighted-average method.
Match the following terms to their definitions.
1. Direct labor plus manufacturing
a. Expresses partially completed units in terms of fully completed units
2. Prepared by department for EUP, production costs, and assignment of costs
b. Used by companies that manufacture
3. Equivalent units of production
c. Previous costs brought into later
4. Process costing system
d. Conversion costs
5. Transferred in costs
e. Combines prior period costs with current period costs
6. Weighted-average method
f. Production cost report
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