SmartBook msn Search Suggested Sites eTrump accuses o Cost Accounting ACC 210 40

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SmartBook msn Search Suggested Sites eTrump accuses o Cost Accounting ACC 210 400 18Spring Test:Exam 2 18/SP This Question: 18 pts 10 of 25 (25 compete)D Paperback, Inc. has two departments: printing and binding. Each department has one direct-cost category (direct materials) and one indirect-c ost categor printing p ocess are i mediately transfer ed to e binding department rect mate a s added when the binding pr cess is % complete. Conversion c immediately transferred to Finished Goods. Paperback, Inc. uses the weighted-average method of process costing. The following is a summary of the Apni EE (Click the icon to view the information.) Requirements 1. Summarize total bir ing department costs for April 2014, and assign these costs to units completed and transferred out and o units in ending work 2. Prepare journal entries for Apni transfers from the printing department to the binding department and from the binding department to Finished Goods Requirement 1. Summarize total binding department costs for Apiril 2014, and assign these costs to units completed (and transferred out) and to units in en Begin by completing the folowing table to summarize the physical and equivalent units. (For amounts with a zero balance, make sure to enter "O" in the app Equivalent Units Direct Materials Conversion (books) Costs Costs work in process in during Apn 3.00d o account for and t 3.150

Explanation / Answer

Beginning Inventory 1000 Transferred in during April 3000 To account for 4000 Accounted by: Completed and transferred out 3150 Ending Work in process 850 Total units accounted 4000 Beginning inventory 1000 Started and completed 2150 Completed and transferred out 3150 Equivalent Units Physical Material Conversion units % Eq.Units % Eq.Units Beginning Inventory 1000 100% 1000 67% 670 Started and finished 2150 100% 2150 100% 2150 Ending Inventory 850 0% 0 80% 680 Total Equivalent units 3150 3500 Material Conversion Costs incurred during April 28665 78750 Equivalent units 3150 3500 Cost per equivalent units 9.10 22.50 Material Conversion Total Cost assigned to beginning work in process 9100 15075 24175 Cost assigned to units started and finished 19565 48375 67940 Cost assigned to ending inventory 0 15300 15300 Total 28665 78750 107415 Total Costs: Costs Costs incurred Total Transferred in April Beginning Inventory 35000 24175 59175 Started and finished 99330 67940 167270 Cost of units finished and trasnefrred 134330 92115 226445 Cost of ending inventory 39270 15300 54570

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