Reference no: EM133100964
PROBLEM 1 - 2B Company, a sporting goods manufacturer, buys wood as direct materials for baseball bats, Dept. 1 process the bats and transfers them to Dept.2 where additional work is applied.Dept.1 began manufacturing 100,000 bats during the month of February 2012. There was no beginning inventory. Costs for Dept.1 for the month of February are as follows: 660,000(direct materials) and 340,000 (conversion cost). A total of 80,000 bats were completed and transferred to Dept.2, the remaining 20,000 bats were still in process at the end of the month. All of the Dept.1's direct materials were placed in process, but on the average, only 25% of the conversion cost was applied to the ending work in process inventory. Prepare Department's 1 Cost of Production Report in Good Form.
PROBLEM 2 - Jane Co. produces homogeneous goods through a continuous process in two producing departments- X and Y. Materials are added at the start of the process in both departments. The production and cost data were taken from Department Y during March 2012. Production data: Cost data: Received from Department X 8,000 units Received from Department X 112,000 Completed and transferred 6,000 units materials 35,000 In process, end (50% complete) 1,000 units Conversion costs 73,125 Lost 9normal, discovered during) 1,000 units. Prepare Department Y's Cost of Production Report in Good Form.
PROBLEM 3 - Wiggles Corporation manufactures a chocolate covered marshmallow using two departments, Processing and Packaging. The first step in the processing Department is to add marshmallow. Conversion costs are assumed to be incurred evenly throughout the process. The last step in the Processing Department before going on the Packaging is the covering of the marshmallow with chocolate. For the month of June, 2015, 900,000 units were completed and at the end of the month, 100,000 remains in process and are 70% completed. Materials cost incurred, marshmallow- P1,800,000; chocolate- P1,350,000, and conversion costs, P1,164,000. Prepare a Cost of Production Report.
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: Materials cost incurred, marshmallow- P1,800,000; chocolate- P1,350,000, and conversion costs, P1,164,000. Prepare a Cost of Production Report
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