Chapter 17 HomeworkeBookThe charges to Work in Process-Assembly Department for a period, together with Information concerning production, are as follows, All direct materials are placed in process at the beginning ofproduction.Work In Process-Assembly DepartmentBal., 9,000 units, 60% completed28,440 To Finished Goods, 207,000 unitsDirect materials, 212,000 units @275,600$1.3Direct labor505,600Factory overhead196,640Bal., 2 units, 80% completedCost per equivalent units of $1.30 for Direct Materials and $3.30 for Conversion Costs.a. Based on the above data, determine the different costs listed below.<>If required, round your Interim calculations to two decimal places.241. Cost of beginning work in process inventory completed this period$42. Cost of units transferred to finished goods during the period$3. Cost of ending work in process inventory4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest$cent.)

The question is based on the concept of Cost Accounting. As per Bartleby guidelines we are allowed…

Answered: The charges to Work in Process-As…

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter18: Process Cost Systems

Section: Chapter Questions

Problem 18.5BPR

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Activity-based and department rate product costing and product cost distortions Black and Blue Sports Inc. manufactures two products: snowboards and skis. The factory overhead incurred is as follows: Indirect labor 507,000 Cutting Department 156,000 Finishing Department 192,000 Total 855,000 The activity hase associated with the two production departments is direct labor hours. The indirect labor can be assigned to two different activities as follows: Activity Budgeted Activity Cost Activity Base Production control 237,000 Number of production runs Materials handling 270,000 Number of moves Total 507,000 The activity-base usage quantities and units produced for the two products follow: Number o Production Runs Number of Moves Direct Labor HoursCutting Direct Labor HoursFinishing Units Produced Snowboards 430 5,000 4,000 2,000 6,000 Skis _70 2,500 2,000 4,000 6,000 Total 500 7,500 6,000 6,000 12,000 Instructions 1. Determine the factory overhead rates under the multiple production department rate method. Assume that indirect labor is associated with the production departments, so that the total factory overhead is 315,000 and 540,000 for the Cutting and finishing departments, respectively. 2. Determine the total and per-unit factory overhead costs allocated to each product, using the multiple production department overhead rates in (1). 3. Determine the activity rates, assuming that the indirect labor is associated with activities rather than with the production departments. 4. Determine the total and per-unit cost assigned to each product under activity-based costing. 5. Explain the difference in the per-unit overhead allocated to each product under the multiple production department factory overhead rate and activity-based costing methods.
Cost of production report: average cost method Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31, 2016: ACCOUNT Work in ProcessRoasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal., 10,500 units, 75% completed 21,000 31 Direct materials, 210,400 units 246,800 267,800 31 Direct labor 135,700 403,500 31 Factory overhead 168,630 572,130 31 Goods transferred. 208,900 units ? ? 31 Bal., ? units, 25% completed ? Instructions Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in ProcessRoasting Department.

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