Off RoadOff Road manufactures auto roof racks in a? two-stage process that inclu
ID: 2436608 • Letter: O
Question
Off RoadOff Road manufactures auto roof racks in a? two-stage process that includes shaping and plating. Steel alloy is the basic raw material of the shaping process. The steel is moulded according to the design specifications of automobile manufacturers? (Ford and General? Motors). The Plating Department then adds an anodized finish. At March? 31, before recording the transfer of cost from the Plating Department to Finished Goods? Inventory, the Off RoadOff Road general ledger included the following? account:
1. Fill in the time line for the Plating Department.
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.)
Off Road
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.)
Off Road
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.)
???
Off Road
Plating Department
Production Cost Report (Weighted-Average Method)
Transferred-
Direct
Conversion
Total
in
Materials
Costs
Costs
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
start complete completeExplanation / Answer
Date Account's tittle Debit $ Credit $ Work in process- Plating 28,800 Work in process- Shaping 28,800 ( Transfer from shaping department ) Direct Materials 28,600 Cash 28,600 ( Material cost incurred) Work in process- Plating 28,600 Direct Materials 28,600 ( Direct materials are issued for production) Direct Labor 20,867 Cash 20,867 ( Labor cost incurred) Work in process- Plating 20,867 Direct Labor 20,867 ( Direct labor cost charged to production ) Manufacturing overhead 36,763 Cash 36,763 ( Manufacturing overhead incurred ) Work in process- Plating 36,763 Manufacturing overhead 36,763 ( Manufacturing overhead costs charged to production )
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