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Category > Management Posted 02 Nov 2017 My Price 10.00

Jacson Company

OPERATION COSTING: UNIT COSTS AND JOURNAL ENTRIES Jacson Company produces two brands of a popular pain medication: regular strength and extra strength. Regular strength is produced in tablet form, and extra strength is produced in capsule form. All direct materials needed for each batch are requisitioned at the start. The work orders for two batches of the products follow, along with some associated cost information:

 

Work Order 121

Work Order 122

 

(Regular Strength)

(Extra Strength)

Direct materials (actual costs):

$9,000

$15,000

Applied conversion costs:

 

 

Mixing

?

?

Tableting

$5,000

—

Encapsulating

—

$6,000

Bottling

?

?

Batch size (bottles of 100 units)

12,000

18,000

In the mixing department, conversion costs are applied on the basis of direct labor hours. Budgeted conversion costs for the department for the year were $60,000 for direct labor and $190,000 for overhead. Budgeted direct labor hours were 5,000. It takes one minute of labor time to mix the ingredients needed for a 100-unit bottle (for either product).

In the bottling department, conversion costs are applied on the basis of machine hours. Budgeted conversion costs for the department for the year were $400,000. Budgeted machine hours were 20,000. It takes one-half minute of machine time to fill a bottle of 100 units.

Required:

1. What are the conversion costs applied in the mixing department for each batch? The bottling department?

2. Calculate the cost per bottle for the regular and extra strength pain medications.

3. Prepare the journal entries that record the costs of the 12,000 regular strength batch as it moves through the various operations.

4. Suppose that the direct materials are requisitioned by each department as needed for a batch. For the 12,000 regular strength batch, direct materials are requisitioned for the mixing and bottling departments. Assume that the amount of cost is split evenly between the two departments. How will this change the journal entries made in Requirement 3?

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Nov 2017 06:11 PM My Price 10.00

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