Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Jul 2017 My Price 11.00

Hound Havens produces plastic doghouses

Hound Havens produces plastic doghouses as part of a continuous process through two departments: Molding and Finishing. Direct materials and conversion are added throughout the month in   both

 

 

th

D
 

Molding           Finishing

Department      Department
 

t  rough Two

 

 

departments, but at different rates. The information presented below was compiled at the end of April:

 

 

$  33,340

11,180
 

$125,000

15,000

6,000
 

LO5

 

 

Departments

 

       
 

48,200

3,400
 		  

?

2,000
 

 

 

 

Text Box: Beginning Inventories (on April 1): Physical units in production carried forward from March 31 . . . Costs: Transferred Molding costs carried forward from March 31 . . Direct materials costs carried forward from March 31 . . . . . . Conversion costs carried forward from March 31 . . . . . . . . . Current Production (in April): Units started during April . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Units in ending inventories as of April 30 . . . . . . . . . . . . . . . . . . Costs: Molding costs transferred to Finishing during April . . . . . . . . Direct materials costs incurred in April . . . . . . . . . . . . . . . . . . Conversion costs incurred in April . . . . . . . . . . . . . . . . . . . . . Percentage of Completion: Inventories with respect to direct materials on April 1 . . . . . . . . Inventories with respect to conversion on April 1 . . . . . . . . . . . Inventories with respect to direct materials on April 30 . . . . . . . Inventories with respect to conversion on April 30 . . . . . . . . . .          Text Box: 2,800                 Text Box: 5,000

 

$669,200

521,840
 

?

$496,000 147,600
 

90%

30

80%

20
 

30%

40

25%

30
 

Instructions

a.       Complete the following requirements for the Molding Department:

1.      Prepare a schedule showing units started and completed in the Molding Department dur- ing April.

2.      Compute the equivalent units of direct materials and conversion for the Molding Depart- ment in April.

3.      Determine the cost per equivalent unit of input resource for the Molding Department dur- ing April.

4.      Prepare the summary journal entry required to transfer units from the Molding Depart- ment to the Finishing Department during April.

5.      Compute the costs assigned to ending inventory in the Molding Department on April 30.

b.       Complete the following requirements for the Finishing Department:

1.      Prepare a schedule showing units started and completed in the Finishing Department dur- ing April.

2.      Compute the equivalent units of direct materials and conversion for the Finishing Depart- ment in April. Direct materials include both those transferred in from the Molding Depart- ment and those added by the Finishing Department.

3.      Determine the cost per equivalent unit of input resource for the Finishing Department dur- ing April.

 

 

4.      Prepare the summary journal entry required to transfer units from the Finishing Depart- ment to Finished Goods Inventory during April.

5.      Compute the costs assigned to ending inventory in the Finishing Department on April 30.

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Jul 2017 10:07 PM My Price 11.00

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