Help me answer accounting question Scribners Corporation produces fine papers in

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Help me answer accounting question

Scribners Corporation produces fine papers in three production departments-Pulping. Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut. and spooled onto reels The company uses the weighted-average method in its process costing system. Data for March for the Drying Department follow: Determine the equivalent units for March for pulping and conversion. Pulping Conversion Equivalent units of production Compute the costs per equivalent unit for March for pulping and conversion. (Round your answers to 2 decimal places.) Pulping Conversion Cost per equivalent unit Determine the total cost of ending work in process inventory and the total cost of units transferred to the Finishing Department in March. Total Cost of ending work in process inventory Cost of units completed and transferred out 4. Prepare a cost reconciliation report for the Drying Department for March.

Explanation / Answer

Answer:1

Answer:2

Answer:3

Equivalent units of production Particulars Pulping Conversion Transferred to next department 157000 157000 Ending work in process: Pulping: 8,000 units × 100% complete 8000 Conversion: 8,000 units × 25% complete 2000 Equivalent units of production 165000 159000

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