Minicase 5
Process Costing Accounting
Spectre Chemicals produces Canovic in a two department process. Information on the two
departments for March and April, 2014 are as follows:
March 2014:
Department 1: The Company had beginning inventory of 6,000 units, 40% completed with a
cost of $45,000. During the month, the department transferred in 22,000 units of the
direct materials with a cost of $10 per unit. Ending inventory was 7,000 units, 30%
completed. Direct labor is $310,500 and factory overhead is $103,500.
Department 2: The Company had beginning inventory of 5,000 units, 70% completed with a
cost of $80,000. During the month, direct labor was $175,000 and factory overhead was
$87,500. Ending inventory was 10,000 units, 50% completed.
April 2014:
Department 1: During the month, the department transferred in 20,000 units of the
direct materials with a cost of $11 per unit. Direct labor is $209,000 and factory overhead
is $104,500. Ending inventory is 10,000 units 60% completed.
Department 2: During the month, direct labor is $175,000 and factory overhead is $87,500.
The company had ending inventory of 5,000 units, 70% completed with a cost of $80,000.
Required: Compute the Equivalent Units of Production, Material costs, and Conversion costs for each
department for March and April, 2014.
Complete the attached chart – one for each department and each month
Prepare a cost of production report for March and April 2014.

• 1499750850-minicase5.pdf

SuperTutor

(15)

Status NEW Posted 11 Jul 2017 05:07 AM My Price 7.00

-----------

Attachments

file 1499750851-Solutions file.docx preview (51 words )

S-----------olu-----------tio-----------ns -----------fil-----------e -----------Hel-----------lo -----------Sir-----------/Ma-----------dam----------- T-----------han-----------k y-----------ou -----------for----------- yo-----------ur -----------int-----------ere-----------st -----------and----------- bu-----------yin-----------g m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age----------- I -----------wil-----------l b-----------e q-----------uic-----------kly----------- on-----------lin-----------e a-----------nd -----------giv-----------e y-----------ou -----------exa-----------ct -----------fil-----------e a-----------nd -----------the----------- sa-----------me -----------fil-----------e i-----------s a-----------lso----------- se-----------nt -----------to -----------you-----------r e-----------mai-----------l t-----------hat----------- is----------- re-----------gis-----------ter-----------ed -----------onÂ----------- th-----------is -----------web-----------sit-----------e -----------Tha-----------nk -----------you----------- -----------

Not Rated(0)

• Buy Answer