Homework: Chapter 17 Homework Score: 0 of 35 pts P17-34 (similar to) Save 4 of 4
ID: 2595513 • Letter: H
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Homework: Chapter 17 Homework Score: 0 of 35 pts P17-34 (similar to) Save 4 of 4 (0 complete) HW Score: 0%, 0 of 95 pts Question Help * St Germaine Company manufactures car seats in its Boise plant Each car seat passes through the assembly department and the testing department. This problem focuses on the testing department Direct materials are added when the testing department process is 90% complete. Com version costs are added evenly during the testing departments process. As work in assembly is completed, each unit is immediately transferred to testing. As each unit is completed in testing, it is immediately transferred to Finished Goods. St Germaine Company uses the weighted-average method of process costing Data for the testing department for October 2014 are as follows (Click the icon to view the testing department data ) Read the requirements Requirement 1. What is the percentage of completion for (a) transferred-in costs and direct materials in beginning work-in-process inventory and (b) transferred-in costs and direct materials in ending work-in-process inventory? Transferred-in costs Direct materials (a) Beginning work-in-process inventory (b) Ending work-in-process inventory i Data Table Physical Units Transferred-In Direct Conversion Car Seats Costs Materials Costs 7,100 $2,928,000 Work in process, October 1 Transferred in during October 2014 Completed during October 2014 $0 $859 340 26,300 3,300 Work in process, October 31 Total costs added during October 2014 $7.757600 59.731.000 $3 948 260 tion transferred-in costs. ?%, direct materials, ?%; conversion costs, 75% "Degree of completion transferred-in costs. ?%, direct materials. ?%, conversion costs, 6096 Requirements Print Done 1. What is the percentage of completion for (a) transferred-in costs and direct materials in beginning work-in-process inventory and (b) transferred-in costs and direct materials in ending work-In-process inventory? or each cost category, compute equivalent units in the testing department. Show physical units in the first column of your schedule 3. For each cost category, summarize total testing department costs for October 2014 calculate the cost per equivalent unit. and assign costs to units completed (and transferred out) and to units in ending work in process 4. Prepare joumal entries for October transfers from the assembly department to the testing department and from the testing department to Finished Goods Check AnswerExplanation / Answer
Answer 1, 2 & 3. Weighted Average Method St. Germaine Company Production Cost Report - Testing Department Month Ended October 31, 2014 Particulars Equivalent Units Physical Units Transferred In Materials Conversion Costs Units to be accounted for Work in process - Beginning 7,100 (100% -Transferred in, 0% - materials, 75% conversion costs) Transferred from Assembly Department (29,600 Units - 7,100 Units) 22,500 Total units 29,600 Units accounted for Transferred out 26,300 26,300 26,300 26,300 Work in process, Ending 3,300 3,300 - 1,980 (100% -Transferred in, 0% - materials, 60% conversion costs) Equivalent units accounted for 29,600 29,600 26,300 28,280 Costs Unit costs Transferred In Materials Conversion Total WIP, Beginning 2,928,000 - 859,340 3,787,340 Costs incurred in Oct 7,757,600 9,731,000 3,948,260 21,436,860 Total Costs 10,685,600 9,731,000 4,807,600 25,224,200 Equivalent units 29,600 26,300 28,280 Costs per Equivalent Units 361 370 170 901 Cost Assignment Transferred In Materials Conversion Total Units Completed & Transferred Out - 26,300 Units Equivalent Units 26,300 26,300 26,300 Costs per Equivalent Units 361 370 170 Total Cost of goods completed & Transferred out 9,494,300 9,731,000 4,471,000 23,696,300 Work in Process - ending Inventory - 3,300 Units Equivalent Units 3,300 - 1,980 Costs per Equivalent Units 361 370 170 Total cost of WIP- Ending Inventory 1,191,300 - 336,600 1,527,900 Total Cost accounted for 10,685,600 9,731,000 4,807,600 25,224,200 Answer 4. Journal Entry Date Particulars Dr. Amt. Cr. Amt. 1 WIP - Testing Deptt. Dr. 9,731,000.00 To Finished Goods - Assembly Deptt. 9,731,000.00 (Record the inventory transferred from Assembly to Testing deptt.) 2 WIP - Testing Deptt. Dr. 13,679,260.00 To Direct Material 9,731,000.00 To Conversion Costs 3,948,260.00 (record the expenses incurred) 3 Finished Goods Inventory Dr. 23,696,300.00 To WIP - Testing Deptt. 23,696,300.00 (Record the goods finished during the month)
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