Scribners Corporation produces fine papers in three production departments -Pulp

Question

Scribners Corporation produces fine papers in three production departments -Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and spooled onto reels. The oompany uses the weighted-average method in its process oosting system. Data for March for the Drying Department follow Work in process inventory, March Work in process inventory, March Pulping cost in work in process Conversion cost in work in 3,200 100% 80% 4,800 100% 75% 31 $1.808 $ 1,248 174.200 $103.802 $ 75.206 inventory, March 1 process inventory, March 1 Units transferred to the next production department Pulping cost added during March Conversion cost added during March No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the Pulping Department Wet fiber is processed in the Drying Department in batches; each unit in the above table is a batch and one batch of wet fibers produces a set amount of dried paper that is passed on to the Finishing Department Required 1. Determine the equivalent units for March for pulping and conversion. Answer is complete and correct. Equivalent units d production 1179,00 177,80 eo 2. Compute the costs per equivalent unit for March for pulping and conversion. (Round your answers to 2 decimal places) Answer is complete and correct. Cost per equivalent unit 0.5 0.4

Explanation / Answer

Prepare cost reconciliation report :

Cost to be accounted for Cost of beginning work in process inventory 3056 Cost added to production during period 179008 Total cost to be accounted for 182064 Cost accounted for as follows : Cost of ending work in process inventory 4380 Cost of units completed and transferred out 177684 Total cost accounted for 182064

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