rework Help Save & Exlt Su Check my w retion manufactures metal roofing In two d
ID: 2543085 • Letter: R
Question
rework Help Save & Exlt Su Check my w retion manufactures metal roofing In two departments: Pressing and Painting. Sheets of metal material are formed in the Pressing Department before being transferred to the Painting Department. The following Information general ledger and cost accounting records on June 30. was taken from the company's 6/1 Beginning balance 6/30 Direct materials 6/30 Direct labor 6/30 ManufacturinLoverhead 321800 6/30 Ending balance 6,000 6/30 Transferred to Painting 25,500 8,200 Physical Uaitss Pressing Department Units in process, Tune 1 Units transferred to Painting Department in Jure Units in process, June 30 300 sheets 500 sheets 100 ,500 aheets Percentage of Conpletion Pressing Department Direct materials, June 1 Converaion, June 1 Direct materials, June 30 Conversion, June 30 20 100 40 a. Compute the number of sheets started by the Pressing Department in June. b. Compute c. Compute the equivalent units of input resources for the Pressing Department in June d. Compute the cost per equivalent unit of input resource for the Pressing Department in June. e. Prepare the June. t Compute the total cost assigned to une Pressing Department's ending inventory on June 30 the number of units started and completed by the Pressing Department in June summary journal entry required to transfer pressed sheets from the Pressing Department to the Painting Department inExplanation / Answer
Solution a:
Number of sheet started by Pressing department in june = Unit transferred to Painting + Ending WIP - Opening WIP
= 1500 + 500 -300 = 1700 sheets
Solution b:
Total sheet completed in Pressing = 1500
Sheets completed from opening WIP = 300
Number of units started and completed by pressing department = 1500 - 300 = 1200 sheets
Solution c:
Solution d:
Solution e:
Value of pressed sheet transferred from pressing department to Painting Department =
$6,000 + (1200*$15) + (1440*$25) = $60,000
Solution f:
Total cost assigned to Pressing Department ending inventory = 500*$15 + 200*$25 = $12,500
Comas Corporation Pressing Department Computation of Equivalent unit (FIFO) Particulars Physical units Material Conversion Units to be accounted for: Beginning WIP Inventory 300 Units started this period 1700 Total unit to be accounted for 2000 Units Accounted for: Units completed and transferred out From beginning inventoryMaterial - 0%
Conversion - 80% 300 0 240 Started and completed currently 1200 1200 1200 Units in ending WIP
Material - 100%
Conversion - 40% 500 500 200 Total units accounted for 2000 1700 1640
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