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cost accounting chapter 17 process costing solution manual 1

cost accounting chapter 17 process costing solution manual...

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CHAPTER 17 PROCESS COSTING SOLUTION EXHIBIT 17-16B Compute Cost per Equivalent Unit, Assembly Department of International Electronics for February 2007. Total Production Costs Direct Materials Conversion Costs ( Step 3 )Costs added during February $1,480,000 $720,000 $760,000 Divide by equivalent units of work done in current period (Solution Exhibit 17-l6A) ÷ 10,000 ÷ 9,500 Cost per equivalent unit $ 72 $ 80 17-17 (20 min.) Journal entries (continuation of 17-16). 1. Work in Process––Assembly 720,000 Accounts Payable 720,000 To record $720,000 of direct materials purchased and used in production during February 2007 2. Work in Process––Assembly 760,000 Various accounts 760,000 To record $760,000 of conversion costs
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Unformatted text preview: for February 2007; examples include energy, manufacturing supplies, all manufacturing labor, and plant depreciation 3. Work in Process––Testing 1,368,000 Work in Process––Assembly 1,368,000 To record 9,000 units completed and transferred from Assembly to Testing during February 2007 at $152 × 9,000 units = $1,368,000 Postings to the Work in Process––Assembly account follow. Work in Process –– Assembly Department Beginning inventory, Feb. 1 3. Transferred out to 1. Direct materials 720,000 Work in Process––Testing 1,368,000 2. Conversion costs 760,000 Ending inventory, Feb. 29 112,000...
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