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Chapter 3 Process Costing(FILEminimizer)

Chapter 3 Process Costing(FILEminimizer) -...

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Exercise: Set B 1 EXERCISES: SET B E3-1B Dellucci Company manufactures pizza sauce through two production departments: Cooking and Canning. In each process, materials and conversion costs are incurred evenly throughout the process. For the month of April, the work in process accounts show the following debits. Instructions Journalize the April transactions. E3-2B The ledger of Vazquez Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,590 5/31 Transferred out ? 5/31 Materials 6,460 5/31 Labor 2,400 5/31 Overhead 1,650 5/31 Balance ? Production records show that there were 400 units in the beginning inventory, 30% complete, 1,300 units started, and 1,200 units transferred out.The beginning work in process had materials cost of $2,040 and conversion costs of $1,550.The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. Instructions (a) How many units are in process at May 31? (b) What is the unit materials cost for May? (c) What is the unit conversion cost for May? (d) What is the total cost of units transferred out in May? (e) What is the cost of the May 31 inventory? E3-3B Manning Manufacturing Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,200, Work in Process—Cutting $2,900, Work in Process—Assembly $10,600, and Finished Goods $31,000. During July, the following transac- tions occurred. 1. Purchased $62,500 of raw materials on account. 2. Incurred $54,000 of factory labor. (Credit Wages Payable.) 3. Incurred $65,000 of manufacturing overhead; $40,000 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $15,700 and Assembly $10,900. 5. Used factory labor for Cutting $29,000 and Assembly $25,000. 6. Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1,680 and Assembly 1,720. 7. Transferred goods costing $67,600 from the Cutting Department to the Assembly Department. 8. Transferred goods costing $134,900 from Assembly to Finished Goods. 9. Sold goods costing $150,000 for $200,000 on account. Instructions Journalize the transactions. (Omit explanations.) Journalize transactions. (SO 4) Answer questions on costs and production. (SO 3, 5, 6) Cooking Canning Beginning work in process $ –0– $ 4,000 Materials 25,000 6,000 Labor 8,500 7,000 Overhead 29,500 25,800 Costs transferred in 55,000 Journalize transactions for two processes. (SO 4) 2592T_c03_001-010 11/13/07 9:24 PM Page 1 Team B 101:backup:Negi:JWQY058:ch03:
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E3-4B In Cabrera Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing Department in selected months during 2008 are as follows. Beginning Ending Work in Process Work in Process Conversion Units Conversion Month Units Cost% Transferred Out Units Cost% January –0– 8,000 2,000 60 March –0– 12,000 4,000 30 May –0– 14,000 5,000 80 July –0– 10,000 1,500 40 Instructions (a) Compute the physical units for January and May.
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