Use the timeline to help compute the equivalent hint each

Assignment Help Accounting Basics

Reference no: EM13580040

Root's Exterior's produces exterior siding for homes. Preparation Department begins with wood, which is chopped into small bits. At the end of the process, an adhesive is added. Then the wood/adhesivemixture goes on to the Compression Department, where the wood is compressed into sheets. Conversion costs are added evenly throughout the preparation process. March data are for the preparation department are as follows Sheets Beginning WIP Inventory 0 sheets; started production 3,300 sheets; completed and transferred out to Compression in March 1,900 sheets; Ending work as process inventory (45% of the way through the preparations process) 1,400 sheets. Costs Beginning work in process inventory 0; costs adding during March - Wood 2,600; Adhesive 1,365; Direct labor 640; Manufacturing Overhead 2,445; Total costs $7,050.

1. Draw a timeline for the Preparatio Department.

2. Use the timeline to help compute the equivalent (hint: each direct material added at a different point in the production process requires its own equivalent unit computation)

3. Compute the total costs of the units (sheets)

a. Completed and transferred out to the Compression Department

b. In the Preparation Department's Ending work in process inventory.

4. Prepare the journal entry to record the cost of the sheets completed and transferred out to the Compression Department.

5. Post the journal entries to the Work in process inventory-Preparation T-account. What is the ending balance?

Reference no: EM13580040

Questions Cloud

Explain whether you would retain or reject the null : suppose that the mean iq of the 85 students in your classes is 110 and you know that the standard deviation of iq

With any statistical model we assess the fit does the model : with any statistical model we assess the fit. does the model accurately depict the truth? explain how standard

On september 1 2010 the account balances of rand equipment : on september 1 2010 the account balances of rand equipment repair were as follows. no. debits no. credits 101 cash 4825

Eleven chairs are numbered 1 through 11 four girls and : eleven chairs are numbered 1 through 11. four girls and seven boys sit on these chairs at random. what is the

Use the timeline to help compute the equivalent hint each : roots exteriors produces exterior siding for homes. preparation department begins with wood which is chopped into small

How does a company grow to become an international entity : how does a company grow to become an international entity? identify one international company trace its roots and

A random sample of size 100 is taken from an infinite : a random sample of size 100 is taken from an infinite population having the mean mu76 and the standard deviation

Department s had no work in process at the beginning of the : department s had no work in process at the beginning of the period. 11289 units of direct materials were added during

Jackson and campbell have capital balances of 100000 and : jackson and campbell have capital balances of 100000 and 300000 respectively. jackson devotes full time and campbell

User Account

All Pages