The question are do it using 5 steps of weighted average method and FIFO method (exactly 5 steps) 5 Weighted-Average Method Sosna Company has a department that manufactures wood trusses(wood frames used in the construction industry). The following information is for the production ofthese trusses for the month of February:Work-in-process inventory, February 1Direct materials cost: 100 percent completeConversion: 20 percent completeUnits started during FebruaryUnits completed during February and transferred outWork-in-process inventory, February 29Direct materials: 100 percent completeConversion cost: 40 percent completeCosts incurred during February5,000 trusses$100,000$135,00012,000 trusses13,000 trusses$ 50,000$ 95,000Direct materialsConversionBuatlah tahap 1 sampai 5 utk metode weighted average dan metode FIFO!

Step1- Equivalent units of production as per FIFO Direct material Conversion Work in…

Answered: Weighted-Average Method Sosna Company…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

See similar textbooks

Similar questions

SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 77,000 Materials inventory, January 1 31,000 Materials purchases 35,000 Materials inventory, December 31 26,000 Direct labor 48,000 Overhead 20,000 Work in process, December 31 62,000
Entries for process cost system Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is .spun into yarn. The output of the Spinning Department is transferred to the Tufting Department, where carpet backing is added at the beginning of the process and the process is completed. On January 1, Port Ormond Carpet Company had the following inventories: Finished Goods 62,000 Work in ProcessSpinning Department 35,000 Work in ProcessTufting Department 28,500 Materials 17,000 Departmental accounts arc maintained for factory overhead, and both have zero balances January 1. Manufacturing operations for January are summarized as follows: A. Materials purchased on account 500,000 B. Materials requisitioned for use: FiberSpinning Department 275,000 Carpet backingTufting Department 110,000 Indirect materialsSpinning Department 46,000 Indirect materialsTufting Department 39,500 C. Labor used: Direct laborSpinning Department 185,000 Direct laborTufting Department 98,000 Indirect laborSpinning Department 18,500 Indirect laborTufting Department 9,000 D. Depreciation charged on fixed assets: Spinning Department 12,500 Tufting Department 8,500 E. Expired prepaid factory insurance: Spinning Department 2,000 Tufting Department 1,000 F. Applied factory overhead: Spinning Department 80,000 Tufting Department 55,000 G. Production costs transferred from Spinning Department to Tufting Department 547,000 H. Production costs transferred from Tufting Department to Finished Goods 807,200 1. Cost of goods sold during the period 795,200 Instructions 1. Journalize the entries to record the operations, identifying each entry by letter. 2. Compute the January 31 balances of the inventory accounts. 3. Compute the January 31 balances of the factory overhead accounts.
Cost of production report The Cutting Department of Karachi Carpet Company provides the following data for January 2016. Assume that all materials are added at the beginning of the process. Work in process. January 1, 1,400 units. 75% completed 22,960 Direct materials (1,400 12.65) 517,710 Conversion (1,400 75% .00) 5,250 22,960 Materials added during January from Weaving Department, 58,000 units 742,400 Direct labor for January 134,550 Factory overhead for January 151,611 Goods finished during January (includes goods in process, January 1), 5,.200 units Work in process. January 31, 3,200 units, 30% completed a. Prepare a cost of production report for the Cutting Department. b. Compute and evaluate the change in the costs per equivalent unit for direct materials and conversion from the previous month (December).

Recommended textbooks for you

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial & Managerial Accounting

Accounting

ISBN:

9781285866307

Author:

Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:

Cengage Learning

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial & Managerial Accounting

Accounting

ISBN:

9781285866307

Author:

Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:

Cengage Learning

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS