Acct306 Homework Ch17 - CHAPTER 17 PROCESS COSTING 17-38...

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CHAPTER 17 PROCESS COSTING 17-38 Transferred-in costs, weighted average. 1. Solution Exhibit 17-38A computes the equivalent units of work done to date in the Binding Department for transferred-in costs, direct materials, and conversion costs.
2. Journal entries: a. Work in Process–– Binding Department 129,600 Work in Process––Printing Department 129,600 Cost of goods completed and transferred out during April from the Printing Department to the Binding Department b. Finished Goods 220,590 Work in Process–– Binding Department 220,590 Cost of goods completed and transferred out during April from the Binding Department to Finished Goods inventory SOLUTION EXHIBIT 17-38A Steps 1 and 2: Summarize Output in Physical Units and Compute Output in Equivalent Units; Weighted-Average Method of Process Costing, Binding Department of Bookworm, Inc. for April 2012. 0 525
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17-2 17-39 Transferred-in costs, FIFO method (continuation of 17-38). 1. Solution Exhibit 17-39A calculates the equivalent units of work done in April 2012 in the Binding Department for transferred-in costs, direct materials, and conversion costs. Solution Exhibit 17-39B summarizes total Binding Department costs for April 2012, calculates the cost per equivalent unit of work done in April 2012 in the Binding Department for

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