Data: 1. Fill in the time line for the Drying Department\'s process. 2. Use the
ID: 2329518 • Letter: D
Question
Data:
1.
Fill in the time line for the Drying Department's process.
2.
Use the time line to compute the number of equivalent units of work performed by the Drying Department during the period, the cost per equivalent unit, and the total costs to account for.
3.
Assign total costs to (a) units completed and transferred to the assembly operation and (b) units in the Drying Department's ending work in process inventory.
Requirement 1. Fill-in the time line for the Drying Department.
Start
Complete
Complete
Requirement 2. Use the time line to compute the number of equivalent units of work performed by the Drying Department during the period, the cost per equivalent unit, and the total costs to account for.
Let's begin by to computing the number of equivalent units of work performed by the Drying Department during the period.
Fielding
Drying Department
Flow of Physical Units and Computation of Equivalent Units
Flow of
Equivalent Units
Physical
Transferred-
Conversion
Flow of Production
Units
in
Costs
Units accounted for:
Total equivalent units
Next, compute the cost per equivalent unit. (Round the cost per equivalent unit to the nearest cent.)
Fielding
Drying Department
Cost per Equivalent Unit
Transferred-
Conversion
in
Costs
Total
Cost per equivalent unit
Requirement 3. Assign total costs to
(a)
units completed and transferred to the assembly operation and
(b)
units in the Drying Department's ending work in process inventory. (Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step. Round your answers to the nearest whole dollar.)
Fielding
Drying Department
Cost Assignment
Transferred-
Conversion
Total
in
Costs
Costs
Assignment of total costs:
a.
x (
+
)
b.
x
x
Total cost accounted for
Units: Beginning work in process 5,000 units Transferred-in from the Moulding Department during the period 26,000 units Completed during the period 14,000 units Ending work in process (20% complete as to conversion work) 17,000 units Costs: Beginning work in process (transferred-in cost, $160; conversion cost, $230) $390 Transferred-in from the Moulding Department during the period 4,800 Conversion costs added during the period 1,858Explanation / Answer
Requirement 1 Material Conversion costs Start Complete Complete 31000 units 31000 units 17400 units Requirement 2 Fielding Drying Department Flow of Physical units and Equivalent units Flow of Physical units Equivalent unit Transferred In Conversion Costs Units accounted for 31000 31000 Work in Process, beginning 5000 5000 5000 Transferred out 9000 9000 9000 Work in Process, ending 17000 17000 3400 Total units 31000 31000 17400 Fielding Drying Department Cost per equivalent units Transferred In Conversion Costs Work in Process, beginning 160 230 Transferred in & conversion cost added during the period 4800 1858 Total costs 4960 2088 Equivalent units 31000 17400 Cost per equivalent unit 0.16 0.12 Requirement 3 Fielding Drying Department Cost assignment Transferred In Conversion Costs Total costs Assignment of total costs a) units completed & transferred to assembly operation 2240 1680 b) Ending work in process inventory of drying department 2720 408 Total costs accounted for 4960 2088
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