Spring Water Company Work-in-Process Inventory—Bottling Month Ended February 29,
ID: 2780082 • Letter: S
Question
Spring Water Company
Work-in-Process Inventory—Bottling
Month Ended February 29, 2016
Dollars
Transferred
Direct
Direct
Manufacturing
Units
In
Materials
Labor
Overhead
Total Costs
Beginning inventory,
Feb. 1 (40% complete)
17,000
$1,600
$600
$530
$2,730
Production started
163,000
137,000
$27,900
33,500
27,470
225,870
Transferred out
155,000
Ending inventory,
Feb. 29 (70% complete)
25,000
Requirement 1. Prepare a production cost report for the Bottling Department for the month of
FebruaryFebruary.
Use the weighted-average method. (Complete all answer boxes. Enter a "0" for any zero balances. Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar. Abbreviation used: EUP = equivalent units of production.)
Spring Water Company
Production Cost Report - Bottling Department
Month Ended February 29
Equivalent Units
Whole
Transferred
Direct
Conversion
UNITS
Units
In
Materials
Costs
Units to account for:
Beginning work-in-process
17,000
Transferred in
163,000
Total units to account for
180,000
Units accounted for:
Ending work-in-process
25,000
25,000
0
17,500
Completed and transferred out
155,000
155,000
155,000
155,000
Total units accounted for
180,000
180,000
155,000
172,500
Transferred
Direct
Conversion
Total
COSTS
In
Materials
Costs
Costs
Costs to account for:
Total costs to account for
Cost per equivalent unit
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Spring Water Company
Production Cost Report - Bottling Department
Month Ended February 29
Equivalent Units
Whole
Transferred
Direct
Conversion
UNITS
Units
In
Materials
Costs
Units to account for:
Beginning work-in-process
17,000
Transferred in
163,000
Total units to account for
180,000
Units accounted for:
Ending work-in-process
25,000
25,000
0
17,500
Completed and transferred out
155,000
155,000
155,000
155,000
Total units accounted for
180,000
180,000
155,000
172,500
Transferred
Direct
Conversion
Total
COSTS
In
Materials
Costs
Costs
Costs to account for:
Total costs to account for
Cost per equivalent unit
Explanation / Answer
Equivalent units:
Material
Units percentage completed Equivalent units
Units completed and transferred out 155000 100% 155000
Ending work in progress 25000 0% 0
155000 units
Conversion
Units percentage completed Equivalent units
Units completed and transferred out 155000 100% 155000
Ending work in progress 25000 70% 17500
172500 units
Cost per Equivalent units
[Total cost t / Equivalent units]
Cost assignment :
155,000 *$0.77
= $119350
155,000 *$0.18
= $27900
155,000 *0.36
= $55800
25000 *$0.77
=$19250
0*$0.18
= $0
17,500*0.36
= $6300
Cost per Equivalent units
[Total cost t / Equivalent units]
Cost Transferred In Direct material Conversion cost Total cost Beginning work in progress $1600 - $1130 $2730 Cost incurred during the year $137000 $27900 $60970 $225,870 Total cost to account for $138600 $27900 $62100 $228600 Equivalent Units 180,000 155,000 172,500Cost per Equivalent units
[Total cost t / Equivalent units]
$0.77 $0.18 $0.36 $1.31Related Questions
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