Question

In: Accounting

Data: Units: Beginning work in process 5,000 units Transferred-in from the Moulding Department during the period...

Data:

Units:
Beginning work in process 5,000 units
Transferred-in from the Moulding Department during the period 26,000 units
Completed during the period 14,000 units
Ending work in process (20% complete as to
conversion work) 17,000 units
Costs:
Beginning work in process (transferred-in cost, $160;
conversion cost, $230) $390
Transferred-in from the Moulding Department during the period 4,800
Conversion costs added during the period 1,858

1.

Fill in the time line for the Drying​ Department's process.

2.

Use the time line to compute the number of equivalent units of work performed by the Drying Department during the​ period, the cost per equivalent​ unit, and the total costs to account for.

3.

Assign total costs to​ (a) units completed and transferred to the assembly operation and​ (b) units in the Drying​ Department's ending work in process inventory.

Requirement 1. ​Fill-in the time line for the Drying Department.

Start

Complete

Complete

Requirement 2. Use the time line to compute the number of equivalent units of work performed by the Drying Department during the​ period, the cost per equivalent​ unit, and the total costs to account for.

​Let's begin by to computing the number of equivalent units of work performed by the Drying Department during the period.

Fielding

Drying Department

Flow of Physical Units and Computation of Equivalent Units

Flow of

Equivalent Units

Physical

Transferred-

Conversion

Flow of Production

Units

in

Costs

Units accounted for:

Total equivalent units

​Next, compute the cost per equivalent unit. ​(Round the cost per equivalent unit to the nearest​ cent.)

Fielding

Drying Department

Cost per Equivalent Unit

Transferred-

Conversion

in

Costs

Total

Cost per equivalent unit

Requirement 3. Assign total costs to

​(a​)

units completed and transferred to the assembly operation and

​(b​)

units in the Drying​ Department's ending work in process inventory. ​(Enter quantities​ first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step. Round your answers to the nearest whole​ dollar.)

   

Fielding

Drying Department

Cost Assignment

Transferred-

Conversion

Total

in

Costs

Costs

Assignment of total costs:

a.

x (

+

)

b.

x

x

Total cost accounted for

Solutions

Expert Solution

Requirement 1
Material Conversion costs
Start Complete Complete
31000 units 31000 units 17400 units
Requirement 2
Fielding
Drying Department
Flow of Physical units and Equivalent units
Flow of Physical units Equivalent unit
Transferred In Conversion Costs
Units accounted for 31000 31000
Work in Process, beginning 5000 5000 5000
Transferred out 9000 9000 9000
Work in Process, ending 17000 17000 3400
Total units 31000 31000 17400
Fielding
Drying Department
Cost per equivalent units
Transferred In Conversion Costs
Work in Process, beginning 160 230
Transferred in & conversion cost added during the period 4800 1858
Total costs 4960 2088
Equivalent units 31000 17400
Cost per equivalent unit 0.16 0.12
Requirement 3
Fielding
Drying Department
Cost assignment
Transferred In Conversion Costs Total costs
Assignment of total costs
a) units completed & transferred to assembly operation 2240 1680
b) Ending work in process inventory of drying department 2720 408
Total costs accounted for 4960 2088

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