Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses a process cost system to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process—Rolling on September 1 and debits to the account during September were as follows: Bal., 1,200 units, 70% completed: Direct materials (1,200 x $7.70) $ 9,240 Conversion (1,200 x 70% x $3.20) 2,688 $ 11,928 From Smelting Department, 26,400 units $205,920 Direct labor 51,542 Factory overhead 27,754 During September, 1,200 units in process on September 1 were completed, and of the 26,400 units entering the department, all were completed except 3,300 units that were 40% completed. Charges to Work in Process—Rolling for October were as follows: From Smelting Department, 30,400 units $243,200 Direct labor 68,730 Factory overhead 37,010 During October, the units in process at the beginning of the month were completed, and of the 30,400 units entering the department, all were completed except 1,600 units that were 20% completed. Required: 1. Enter the balance as of September 1 in a four-column account for Work in Process—Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Rolling Department ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Sept. 1 Bal., 1,200 units, 70% completed fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 Sept. 30 Smelting Dept., 26,400 units at $7.8 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Sept. 30 Direct labor fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Sept. 30 Factory overhead fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Sept. 30 Finished goods fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 Sept. 30 Bal., 3,300 units, 40% completed fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24 If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent. Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30 Whole Units Equivalent Units Units Direct Materials (a) Conversion (a) Units charged to production: Inventory in process, September 1 fill in the blank 25 Received from Smelting Department fill in the blank 26 Total units accounted for by the Rolling Department fill in the blank 27 Units to be assigned costs: Inventory in process, September 1 fill in the blank 28 fill in the blank 29 fill in the blank 30 Started and completed in September fill in the blank 31 fill in the blank 32 fill in the blank 33 Transferred to finished goods in September fill in the blank 34 fill in the blank 35 fill in the blank 36 Inventory in process, September 30 fill in the blank 37 fill in the blank 38 fill in the blank 39 Total units to be assigned costs fill in the blank 40 fill in the blank 41 fill in the blank 42 Costs Costs Direct Materials Conversion Total Costs Cost per equivalent unit: Total costs for September in Rolling Department $fill in the blank 43 $fill in the blank 44 Total equivalent units fill in the blank 45 fill in the blank 46 Cost per equivalent unit (b) $fill in the blank 47 $fill in the blank 48 Costs assigned to production: Inventory in process, September 1 $fill in the blank 49 Costs incurred in September fill in the blank 50 Total costs accounted for by the Rolling Department $fill in the blank 51 Costs allocated to completed and partially completed units: Inventory in process, September 1 balance (c) $fill in the blank 52 To complete inventory in process, September 1 (c) $fill in the blank 53 $fill in the blank 54 fill in the blank 55 Cost of completed September 1 work in process $fill in the blank 56 Started and completed in September (c) $fill in the blank 57 fill in the blank 58 fill in the blank 59 Transferred to finished goods in September (c) $fill in the blank 60 Inventory in process, September 30 (d) fill in the blank 61 fill in the blank 62 fill in the blank 63 Total costs assigned by the Rolling Department $fill in the blank 64

Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses a process cost system to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process—Rolling on September 1 and debits to the account during September were as follows: Bal., 1,200 units, 70% completed: Direct materials (1,200 x $7.70) $ 9,240 Conversion (1,200 x 70% x $3.20) 2,688 $ 11,928 From Smelting Department, 26,400 units $205,920 Direct labor 51,542 Factory overhead 27,754 During September, 1,200 units in process on September 1 were completed, and of the 26,400 units entering the department, all were completed except 3,300 units that were 40% completed. Charges to Work in Process—Rolling for October were as follows: From Smelting Department, 30,400 units $243,200 Direct labor 68,730 Factory overhead 37,010 During October, the units in process at the beginning of the month were completed, and of the 30,400 units entering the department, all were completed except 1,600 units that were 20% completed. Required: 1. Enter the balance as of September 1 in a four-column account for Work in Process—Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Rolling Department ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Sept. 1 Bal., 1,200 units, 70% completed fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 Sept. 30 Smelting Dept., 26,400 units at $7.8 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Sept. 30 Direct labor fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Sept. 30 Factory overhead fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Sept. 30 Finished goods fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 Sept. 30 Bal., 3,300 units, 40% completed fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24 If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent. Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30 Whole Units Equivalent Units Units Direct Materials (a) Conversion (a) Units charged to production: Inventory in process, September 1 fill in the blank 25 Received from Smelting Department fill in the blank 26 Total units accounted for by the Rolling Department fill in the blank 27 Units to be assigned costs: Inventory in process, September 1 fill in the blank 28 fill in the blank 29 fill in the blank 30 Started and completed in September fill in the blank 31 fill in the blank 32 fill in the blank 33 Transferred to finished goods in September fill in the blank 34 fill in the blank 35 fill in the blank 36 Inventory in process, September 30 fill in the blank 37 fill in the blank 38 fill in the blank 39 Total units to be assigned costs fill in the blank 40 fill in the blank 41 fill in the blank 42 Costs Costs Direct Materials Conversion Total Costs Cost per equivalent unit: Total costs for September in Rolling Department $fill in the blank 43 $fill in the blank 44 Total equivalent units fill in the blank 45 fill in the blank 46 Cost per equivalent unit (b) $fill in the blank 47 $fill in the blank 48 Costs assigned to production: Inventory in process, September 1 $fill in the blank 49 Costs incurred in September fill in the blank 50 Total costs accounted for by the Rolling Department $fill in the blank 51 Costs allocated to completed and partially completed units: Inventory in process, September 1 balance (c) $fill in the blank 52 To complete inventory in process, September 1 (c) $fill in the blank 53 $fill in the blank 54 fill in the blank 55 Cost of completed September 1 work in process $fill in the blank 56 Started and completed in September (c) $fill in the blank 57 fill in the blank 58 fill in the blank 59 Transferred to finished goods in September (c) $fill in the blank 60 Inventory in process, September 30 (d) fill in the blank 61 fill in the blank 62 fill in the blank 63 Total costs assigned by the Rolling Department $fill in the blank 64

Managerial Accounting

15th Edition

ISBN:9781337912020

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

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

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 4PB: Work in process account data for two months; cost of production reports Pittsburgh Aluminum Company...

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Work in Process Account Data for Two Months; Cost of Production Reports

Pittsburgh Aluminum Company uses a process cost system to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process—Rolling on September 1 and debits to the account during September were as follows:

Bal., 1,200 units, 70% completed:
	Direct materials (1,200 x $7.70)	$ 9,240
	Conversion (1,200 x 70% x $3.20)	2,688
	$ 11,928
From Smelting Department, 26,400 units	$205,920
Direct labor	51,542
Factory overhead	27,754

During September, 1,200 units in process on September 1 were completed, and of the 26,400 units entering the department, all were completed except 3,300 units that were 40% completed. Charges to Work in Process—Rolling for October were as follows:

From Smelting Department, 30,400 units	$243,200
Direct labor	68,730
Factory overhead	37,010

During October, the units in process at the beginning of the month were completed, and of the 30,400 units entering the department, all were completed except 1,600 units that were 20% completed.

Required:

1. Enter the balance as of September 1 in a four-column account for Work in Process—Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank.

ACCOUNT	Work in Process-Rolling Department		ACCOUNT NO.
	BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
Sept. 1	Bal., 1,200 units, 70% completed		fill in the blank 1	fill in the blank 2	fill in the blank 3	fill in the blank 4
Sept. 30	Smelting Dept., 26,400 units at $7.8		fill in the blank 5	fill in the blank 6	fill in the blank 7	fill in the blank 8
Sept. 30	Direct labor		fill in the blank 9	fill in the blank 10	fill in the blank 11	fill in the blank 12
Sept. 30	Factory overhead		fill in the blank 13	fill in the blank 14	fill in the blank 15	fill in the blank 16
Sept. 30	Finished goods		fill in the blank 17	fill in the blank 18	fill in the blank 19	fill in the blank 20
Sept. 30	Bal., 3,300 units, 40% completed		fill in the blank 21	fill in the blank 22	fill in the blank 23	fill in the blank 24

If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent.

Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30
	Whole Units	Equivalent Units
Units		Direct Materials (a)	Conversion (a)
Units charged to production:
Inventory in process, September 1	fill in the blank 25
Received from Smelting Department	fill in the blank 26
Total units accounted for by the Rolling Department	fill in the blank 27
Units to be assigned costs:
Inventory in process, September 1	fill in the blank 28	fill in the blank 29	fill in the blank 30
Started and completed in September	fill in the blank 31	fill in the blank 32	fill in the blank 33
Transferred to finished goods in September	fill in the blank 34	fill in the blank 35	fill in the blank 36
Inventory in process, September 30	fill in the blank 37	fill in the blank 38	fill in the blank 39
Total units to be assigned costs	fill in the blank 40	fill in the blank 41	fill in the blank 42


Costs	Direct Materials	Conversion	Total Costs
Cost per equivalent unit:
Total costs for September in Rolling Department	$fill in the blank 43		$fill in the blank 44
Total equivalent units	fill in the blank 45		fill in the blank 46
Cost per equivalent unit (b)	$fill in the blank 47		$fill in the blank 48
Costs assigned to production:
Inventory in process, September 1				$fill in the blank 49
Costs incurred in September				fill in the blank 50
Total costs accounted for by the Rolling Department				$fill in the blank 51
Costs allocated to completed and partially completed units:
Inventory in process, September 1 balance (c)				$fill in the blank 52
To complete inventory in process, September 1 (c)	$fill in the blank 53		$fill in the blank 54	fill in the blank 55
Cost of completed September 1 work in process				$fill in the blank 56
Started and completed in September (c)	$fill in the blank 57		fill in the blank 58	fill in the blank 59
Transferred to finished goods in September (c)				$fill in the blank 60
Inventory in process, September 30 (d)	fill in the blank 61		fill in the blank 62	fill in the blank 63
Total costs assigned by the Rolling Department				$fill in the blank 64

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