MANAGERIAL ACCOUNTING W/ACCESS
17th Edition
ISBN: 9781264362905
Author: Garrison
Publisher: MCG
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Chapter 4, Problem 5E
EXERCISE 4-5 Cost Reconciliation Report-Weighted-Average Method LO4-5
Maria Am Corporation uses the weighted-average method in its
Required:
Prepare a cost reconciliation report for the Baking Department for June.
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Exercise 4-1 (Algo) Process Costing Journal Entries [LO 4-1]
Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's
operations in March follows:
a. Raw materials used in production: Molding Department, $27,600; and Firing Department, $4,100.
b. Direct labor costs incurred: Molding Department, $19,600; and Firing Department, $4,200.
c. Manufacturing overhead was applied: Molding Department, $23,900; and Firing Department, $36,600.
d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company's
process costing system, the cost of the unfired, molded bricks was $67,700.
e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the company's process
costing system, the cost of the finished bricks was $108,000.
f. Finished bricks were sold to customers. According to the company's process costing system, the cost…
Exercise 4-2 (Algo) Equivalent Units of Production—Weighted-Average Method [LO 4-2]
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October:
Percent Completed
Units
Materials
Conversion
Work in process, October 1
46,000
90
%
55
%
Work in process, October 31
31,000
70
%
47
%
The department started 395,000 units into production during the month and transferred 410,000 completed units to the next department.
Required: Compute the equivalent units of production for October.
Equivalent units of production:
Materials:
Conversion:
Exercise 4-1 (Algo) Process Costing Journal Entries [LO 4-1]
Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's
operations in March follows:
a. Raw materials used in production: Molding Department, $28,800; and Firing Department, $4,700.
b. Direct labor costs: Molding Department, $16,300; and Firing Department, $5,400.
c. Manufacturing overhead was applied: Molding Department, $23,000; and Firing Department, $39,700.
d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. The cost of the unfired, molded
bricks was $65,500.
e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. The cost of the finished bricks was
$109,800.
f. Finished bricks were sold to customers. The cost of the finished bricks sold was $105,300.
Required:
Prepare journal entries to record items (a) through (f) above.
Note: If no entry is required for a…
Chapter 4 Solutions
MANAGERIAL ACCOUNTING W/ACCESS
Ch. 4.A - EXERCISE 4A-1 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-2 Cost per Equivalent Unit-FIFO Method...Ch. 4.A - EXERCISE 4A-3 Assigning Costs to Units-FIFO Method...Ch. 4.A - EXERCISE 4A-4 Cost Reconciliation Report-EIFO...Ch. 4.A - EXERCISE 4A-5 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-6 Equivalent Units of Production-FIFO...Ch. 4.A - EXERCISE 4A-7 Equivalent Units of Production and...Ch. 4.A -
EXERCISE 4A-8 Equivalent Units of Production—FIFO...Ch. 4.A - EXERCISE 4A-9 Equivalent Units; Equivalent Units...Ch. 4.A - PROBLEM 4A-10 Equivalent Units of Production;...
Ch. 4.A - Prob. 11PCh. 4.A - Prob. 12CCh. 4.B - Prob. 1ECh. 4.B - EXERCISE 4B-2 Step-Down Method LO4-11 Madison Park...Ch. 4.B - Prob. 3ECh. 4.B - EXERCISE 4B-4 Direct Method LO4-10 Refer to the...Ch. 4.B - PROBLEM 4B-5 Step-Down Method L04-11 Woodbury...Ch. 4.B - Prob. 6CCh. 4 - Prob. 1QCh. 4 - In what ways are job-order and process costing...Ch. 4 - Why is cost accumulation simpler in a process...Ch. 4 - How many Work in Process accounts are maintained...Ch. 4 - Prob. 5QCh. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - Prob. 1AECh. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Prob. 10F15Ch. 4 - Prob. 11F15Ch. 4 - Prob. 12F15Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Prob. 14F15Ch. 4 - Prob. 15F15Ch. 4 - Prob. 1ECh. 4 - Prob. 2ECh. 4 - Prob. 3ECh. 4 - EXERCISE 4-4 Assigning Costs to...Ch. 4 - EXERCISE 4-5 Cost Reconciliation...Ch. 4 - Prob. 6ECh. 4 - Prob. 7ECh. 4 - Prob. 8ECh. 4 -
EXERCISE 4-9 Equivalent Units and Cost per...Ch. 4 - Prob. 10ECh. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - PROBLEM 4-16 Comprehensive...Ch. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Prob. 19CCh. 4 - (
CASE 4-20 Ethics and the Manager, Understanding...
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