Question

Work in Process Inventory—Plating
March 1 balance	35,350
Transferred-in from Shaping	43,200
Direct materials	25,200
Direct labour	22,000
Manufacturing overhead	35,500

The direct materials​ (rubber pads) are added at the end of the plating process. Conversion costs are incurred evenly throughout the process. Work in process of the Plating Department on March 1 consisted of 1,200 racks. The $35,350 beginning balance of Work in Processlong dash—Plating includes $21,600 of​ transferred-in cost and $13,750 of conversion cost. During​ March, 2,400 racks were transferred in from the Shaping Department. The Plating Department transferred 2,100 racks to finished goods inventory in March and 1,500 were still in process on March 31. This ending inventory was​ 50% of the way through the plating process.

ip Surge Protectors
Assembly Department
Flow of Physical Units and Computation of Equivalent Units
	Flow of	Equivalent Units
	Physical	Direct	Conversion
Flow of Production	Units	Materials	Costs

Start		?% Completed	?% Completed

Requirement 2. Prepare the March production cost report for the Plating Department.

Before we can start the production cost report we must first compute the Plating​ Department's equivalent units. ​(For entries with a zero​ balance, make sure to enter​ "0" in the appropriate​ cell.)

Classic Accessories
Plating Department
Equivalent Unit Computations (Weighted-Average)
	Flow of	Equivalent Units
	Physical	Transferred-	Direct	Conversion
Flow of Production	Units	in	Materials	Costs
Units accounted for:
Total equivalent units

Now we will begin the production cost report by completing the first half of the report. Compute the cost per equivalent unit. ​(For entries with a zero​ balance, make sure to enter​ "0" in the appropriate​ column.)

Classic Accessories
Plating Department
Production Cost Report (Weighted-Average)
	Transferred-	Direct	Conversion
	in	Materials	Costs	Total
Cost per equivalent unit

Complete the March production cost report by assigning the costs to units completed and transferred out and to ending inventory. ​(Enter quantities​ first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step. For entries with a zero​ balance, make sure to enter​ "0" in the appropriate​ cell(s). Round your answers to the nearest whole​ dollar.)

Complete the March production cost report by assigning the costs to units completed and transferred out and to ending inventory. ​(Enter quantities​ first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step. For entries with a zero​ balance, make sure to enter​ "0" in the appropriate​ cell(s). Round your answers to the nearest whole​ dollar.)

   

Classic Accessories
Plating Department
Production Cost Report (Weighted-Average Method)
		Transferred-		Direct				Conversion			Total
		in		Materials				Costs			Costs

	Save Accounting Table...			+
	Copy to Clipboard...			+

Assignment of total costs:

x (

+

+

)

x

x

x

Total cost accounted for

Requirement 3. Journalize all transactions affecting the Plating Department during​ March, including the entries that have already been posted.

Record the journal entry for the cost of the units transferred in from the Shaping Department. ​(Record debits​ first, then credits. Explanations are not​ required.)

Journal Entry
Date		Accounts	Debit	Credit

Record the direct​ materials, direct​ labour, and manufacturing overhead assigned to the Plating Department.

  

Journal Entry
Date		Accounts	Debit	Credit

Prepare the journal entry to record the cost of units completed and transferred out.

Journal Entry
Date		Accounts	Debit	Credit

Answer 1

Flow f Production
			Physical	Material	Conversion
			Units
Units completed and transferred out			2,100.00	100%	100%
Ending WIP			1500	0%	50%
Equivalent Units Computation
			Physical	Transferred	Material	Conversion
			Units	in cost
Units Accounted for:
Units completed and transferred			2100	2100	2100	2100
Ending WIP			1500	1500	0	1050
Total Equivalent unitss			3600	3600	2100	3150
Cost per Equivalent units
			Transferred	Material	Conversion	Total
			in cost
Beginning WIP cost			21600		13750	35350
Current cost added			43200	25200	57500	125900
Total Cost to be accounted for			64800	25200	71250	161250
Divide: Equivalent units			3600	2100	3150
Cost per Equivalent units			18	12	22.62
Production Cost report
Assignmen of cost			Transferred	Material	Conversion	Total
			in cost
Units completed and transferred			37800	25200	47500	110500
Ending Inventory
Transferred in			27000
Material				0
Conversion					23750	50750
Total cost accounted for						161250
Journal Entry:
Date	Accounts title and explanation				Debit $	Credit $
a.	Work in process-Plating Dr.				43200
	Work in process-Shaping Account					43200
b.	Work in process-Plating Dr.				82700
	Raw material Inventory					25200
	Wages payable Account					22000
	Manufacturing Overheads Account					35500
c.	Finished Goods Inventory Dr.				110500
	Work in Process -Plating Account					110500