Work in Process Inventoryâ€"Plating March 1 balance 35,350
Transferred-in from Shaping 43,200
Direct materials 25,200
Direct labour 22,000
Manufacturing overhead 35,500
The direct materials (rubber pads) are added at the end of the plating process. Conversion costs are incurred evenly throughout the process. Work in process of the Plating Department on March 1 consisted of 1,200 racks. The $35,350 beginning balance of Work in Processlong dash—Plating includes $21,600 of transferred-in cost and $13,750 of conversion cost. During March, 2,400 racks were transferred in from the Shaping Department. The Plating Department transferred 2,100 racks to finished goods inventory in March and 1,500 were still in process on March 31. This ending inventory was50% of the way through the plating process.
ip Surge Protectors
Assembly Department
Flow of Physical Units and Computation of Equivalent Units
Flow of Equivalent Units
Physical Direct Conversion
Flow of Production Units Materials Costs
Start ?% Completed ?% Completed
Requirement 2. Prepare the March production cost report for the Plating Department.
Before we can start the production cost report we must first compute the Plating Department's equivalent units. (For entries with a zero balance, make sure to enter "0" in the appropriate cell.)
Classic Accessories
Plating Department
Equivalent Unit Computations (Weighted-Average)
Flow of Equivalent Units
Physical Transferred- Direct Conversion
Flow of Production Units in Materials Costs
Units accounted for:
Total equivalent units
Now we will begin the production cost report by completing the first half of the report. Compute the cost per equivalent unit.(For entries with a zero balance, make sure to enter "0" in the appropriate column.)
Classic Accessories
Plating Department
Production Cost Report (Weighted-Average)
Transferred- Direct Conversion
in Materials Costs Total
Cost per equivalent unit
Complete the March production cost report by assigning the costs to units completed and transferred out and to ending inventory.(Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step. For entries with a zero balance, make sure to enter "0" in the appropriate cell(s). Round your answers to the nearest wholedollar.)
Complete the March production cost report by assigning the costs to units completed and transferred out and to ending inventory.(Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step. For entries with a zero balance, make sure to enter "0" in the appropriate cell(s). Round your answers to the nearest wholedollar.)
Classic Accessories
Plating Department
Production Cost Report (Weighted-Average Method)
Transferred- Direct Conversion Total
in Materials Costs Costs
Save Accounting Table... +
Copy to Clipboard... +
Assignment of total costs:
x + + )
)
x
x
x
Total cost accounted for
Requirement 3. Journalize all transactions affecting the Plating Department during March, including the entries that have already been posted.
Record the journal entry for the cost of the units transferred in from the Shaping Department. (Record debits first, then credits. Explanations are not required.)
Journal Entry
Date Accounts Debit Credit
Record the direct materials, direct labour, and manufacturing overhead assigned to the Plating Department.
Journal Entry
Date Accounts Debit Credit
Prepare the journal entry to record the cost of units completed and transferred out.
Journal Entry
Date Accounts Debit Credit