G Accessory World Makes × k cessory World C Secure https/ tion.com/flow/connect.

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G Accessory World Makes × k cessory World C Secure https/ tion.com/flow/connect.html Chapter 18 Homework Help Save &ExitSubmi; 2 Accessory World makes floor mats for the automobli Coating Large sheets of synthetic where each set is sprayed with a chemical coating for improved durability The following information p Cutting Department le industry. Finished sets of mats must pass through two departments Cutting and material are cut to size in the Cutting Department and then transferred to the Coating Department 10 Cost data: Total cost of beginning inventory on May 1 Direct materials costs incurred in May Conversion costs incurred in May 44,809 280,800 87,280 Print Physical units data: Units in process, May 1 Units started in May Units in process, May 31 8,eee sets 50,000 sets 10,000 sets Percentage of conpletion data: 100% Direct materials, May 1 Conversion, May1 Direct materials, May 31 Conversion, May 33 eek 2e The following information pertains to May activity in Accessory World's Coating Department Cost data: Total cost of beginning inventory on May 1 45,388 559 PM /5/2018 e here to search

Explanation / Answer

FIFO--Cutting Department UNITS TO ACCOUNT FOR: Beginning Work in Process units 8,000 Add: Units Started in Process 50,000 Total Units to account for: 58,000 UNITS TO BE ACCOUNTED FOR: Units completed from Beginning WIP 8000 Units started and completed 40,000 Ending Work in Process 10,000 Total Units to be accounted for: 58,000 Equivalent Units: Material Cost Conversion % Completion Units % Completion Units Units completed from Beg. WIP 0% 0 20% 1,600 Units started and completed 100% 40,000 100% 40,000 Ending Work in Process 100% 10,000 20% 2,000 Total Equivalent units 50,000 43,600 COST PER EQUIVALENT UNIT: Material Conversion Total cost added during the year 200,000 87,200 Equivalent Units 50,000 43,600 Cost per Equivalent unit 4 2 TOTAL COST ACCOUNTED FOR: Units Completed from Beginning WIP (8000 units) Equivalent unit Cost per EU Total Cost Beginning Cost 44800 Material 0 4 0 Conversion Cost 1,600 2 3200 Cost of units completed from Beg WIP 48000 Units started and Transferred out (40000 units) Equivalent unit Cost per EU Total Cost Material 40,000 4 160000 Conversion Cost 40,000 2 80000 Total Cost of Units completed and transferred out: 240000 Ending Work in process (10000 units) Equivalent unit Cost per EU Total Cost Material 10,000 4 40000 Conversison Cost 2,000 2 4000 Total cost of Ending Work in process: 44,000 Cost of Goods transferred out (48000+240000): $ 288000 FIFO-Coating UNITS TO ACCOUNT FOR: Beginning Work in Process units 6,000.00 Add: Units Started in Process 48,000.00 Total Units to account for: 54,000.00 UNITS TO BE ACCOUNTED FOR: Units completed from beginning work in process 6,000.00 Units started and completed 39,000.00 Ending Work in Process 9,000.00 Total Units to be accounted for: 54,000.00 Equivalent Units: Transferred in Cost Material Cost Conversion Cost % Completion Units % Completion Units % Completion Units Units completed from beginning WIP 0% 0.00 40% 2,400.00 20% 1,200.00 Units started annd completed 100% 39,000.00 100% 39,000.00 100% 39,000.00 Ending Work in Process 100% 9,000.00 70% 6,300.00 90% 8,100.00 Total Equivalent units 48,000.00 47,700.00 48,300.00 COST PER EQUIVALENT UNIT: Transferred-in Material Conversion Cost added during the period 288,000 11,925 84,525 Equivalent Units 48,000.00 47,700.00 48,300.00 Cost per Equivalent unit 6.00 0.25 1.75 TOTAL COST ACCOUNTED FOR: Units started and Completed and Transferred out (39000 units) Equivalent unit Cost per EU Total Cost Transferred-in cost 39,000 6 234000 Material cost 39,000 0.25 9750 Conversion Cost 39,000 1.75 68250 Total Cost of Units completed and transferred out: 312000 Completed from beginning Work in process (6000 units) Equivalent unit Total Cost Beginning cost 45300 Transferred-in cost 0.00 6 0 Material cost 2,400.00 0.25 600 Conversion Cost 1,200.00 1.75 2100 Total cost of Ending Work in process: 48,000 Total cost assigned to Finished Goods ($ 312000+48000) 360000 Ending Work in Process (9000 units) Equivalent unit Total Cost Transferred-in cost 9,000.00 6 54000 Material cost 6,300.00 0.25 1575 Conversion Cost 8,100.00 1.75 14175 Total cost of Ending Work in process: 69,750 Total Cost accounted for: 429,750 Req a: Number of units started in coting: 48000 units Req b: Number of units transferred out of coating: 45000 units Number of units started and completed: 39000 units Req c: Transferred in Material Conversion Equivalent unitts 48000 47700 48300 Req d: Transf. in Material conversion Cost per eq. unit 6 0.25 1.75 Req e: Journal entry: Finished Goods Inventory Account Dr. 360000     Work in process-Coating Inventory Account 360000 Req f: Cost of Ending Inventory: $ 69750

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