The following information pertains to May activity in Accessory World\'s Coating
ID: 2777299 • Letter: T
Question
The following information pertains to May activity in Accessory World's Coating Department: Compute how many cut mat sets were started in the Coating Department during May. Prepare a schedule showing: (1) the number of mat sets transferred out of the Coating Department in May. and (2) the number of mat sets started and completed by the Coating Department in May. Compute the equivalent units of input resources for the Coating Department in May. Compute the cost per equivalent unit of input resource for the Coating Department in May. Prepare the summary journal entry required to transfer the cost of finished mat sets from the Coating Department's Work in Process Inventory to the company's Finished Goods Inventory in May. Compute the total cost assigned to the Coating Department's ending inventory in process on May 31.Explanation / Answer
Answer:a This is from problem 18.10 part A. It carries down and is applied to this section Outputs Working in Progress May 31= 10000
58000-10000= 48000 sets
Answer:b (1) Beginning work in process-6,000 sets
Start new units in May-48,000 sets
Total 54,000 sets Outputs
Ending work in process-(9,000) sets
Completed and transferred mat sets- 45,000 sets
(2) Total input units 54,000 sets
Ending work in process-(9,000) sets
Beginning work in process- 6,000 sets
Units completed and transferred- 39,000 sets
Answer:c
Answer:d
Answer:e
Finished Goods Inventory A/C Dr. $360000
To Work in Process: Coating Department A/C $360000
To record the transfer of 45,000 mat sets to Finished Goods
Inventory in May:
Cost of beginning inventory on May 1 $ 45,300
May cut materials (39,000 equivalent units × $6) 234,000
May direct materials (41,400 equivalent units × $0.25) 10,350
May conversion (40,200 equivalent units × $1.75) 70,350
Total cost of units transferred $360000
Answer:f
Input resources required Cut Material Direct Material Conversion To Finish beginning inventory in process on May 1: Cut materials (6,000 units, 0% to complete) 0 Direct materials (6,000 units require 40% to complete) 2400 Conversion (6,000 units require 20% to complete) 1200 To start and complete 39,000 units in May 39000 39000 39000 To start ending inventory in process on May 31 Cut materials (9,000 units 100% complete) 9000 Direct materials (9,000 units 70% complete) 6300 Conversion (9,000 units 90% complete) 8100 Equivalent units of input resources in May 48000 47700 48300Related Questions
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