15. Jordana Woolens is a manufacturer of wool cloth. The information for March is as follows: Beginning work in process10,000 unitsUnits started20,000 unitsUnits completed25,000 units  Beginning work-in-process direct materials$ 6,000Beginning work-in-process conversion$ 2,600Direct materials added during month$30,000Direct manufacturing labor during month$12,000Factory overhead$ 5,000Beginning work in process was half converted as to labor and overhead. Direct materials are added at the beginning of the process. All conversion costs are incurred evenly throughout the process. Ending work in process was 60% complete.Prepare a production cost worksheet using the weighted-average method. Include any necessary supporting schedules.

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Asked Dec 11, 2019
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15. Jordana Woolens is a manufacturer of wool cloth. The information for March is as follows:

 

Beginning work in process

10,000 units

Units started

20,000 units

Units completed

25,000 units

 

 

Beginning work-in-process direct materials

$ 6,000

Beginning work-in-process conversion

$ 2,600

Direct materials added during month

$30,000

Direct manufacturing labor during month

$12,000

Factory overhead

$ 5,000

Beginning work in process was half converted as to labor and overhead. Direct materials are added at the beginning of the process. All conversion costs are incurred evenly throughout the process. Ending work in process was 60% complete.

Prepare a production cost worksheet using the weighted-average method. Include any necessary supporting schedules.

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Expert Answer

Step 1

The physical units accounted for at the end are 30,000 units, direct materials are 30,000, and converted units are 28,000 which are the computed by adding the units completed with the work in progress at the end.

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A Production Worksheet 2 Flow of Production 3 Opening work in progress Physical units Direct Materials Conversion 10,000 20,000 30,000 During the period 4 5 To Account for 7 Units completed 8 Ending work in progress 9 Accounted for 25,000 5,000 28,000 25,000| 5,000 30,000 25,000 5,000 30,000

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Step 2

The per unit equivalent cost are computed by dividing the total costs to account for with the equivalent ...

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A B Direct Material $6,000 $30,000 $36,000 30,000 Conversion $2,600 $17,000 $19,600 28,000 0.7 Totals $8,600 $47,000 1 Costs 2 Opening work in progress 3 Costs added during period 4 Total costs to account for 5 Equivalent units 6 Per units equivalent costs $55,600 30,000 1.2 1.9

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