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Category > Accounting Posted 06 Aug 2017 My Price 12.00

Maple, Inc.

Production Cost Accounting –Weighted Average Method

Maple, Inc. manufactures syrup that goes through three processing stages prior to completion. Information on work in the first department, blending, is given below for August:

Production Data:
 

Pounds in process, August 1; materials 100% complete; conversion 70% complete

3,000
 

Pounds started into production during August

85,000
 

Pounds completed and transferred out

?
 

Pounds in process, August 31; materials 80% complete; conversion 30% complete

6,000

Cost Data:
 

Work in process inventory, August 1:
Materials cost

$900
 

Conversion cost

$5,900
 

Cost added during May:
Materials cost

$151,000
 

Conversion cost

$161,700

The company uses the weighted-average method.

Instructions:
Submit an Excel document, with each tab labeled by item number, which demonstrates the following:

  1. Compute the equivalent units of production.
  2. Compute the costs per equivalent unit for the month.
  3. Determine the cost of ending work in process inventory and of the units transferred out to the next department.
  4. Prepare a cost reconciliation schedule for the month.

Provide your answers in a clearly organized Excel spreadsheet. Check spelling and formatting for readability. Document your sources.

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 03:08 PM My Price 12.00

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