>>>>>___ Fresh Spring produces premium bottled water.i (Click the icon to view the additional information.)During February, the filtration process incurred the following costs in processing 180,000 liters:(Click the icon to view the costs.)Fresh SpringProduction Cost Report - Filtration Department (Partial)Month Ended February 28UNITSUnits accounted for:Completed and transferred outEnding work-in-processTotal units accounted forMore infoPhysicalUnitsPrintEquivalent UnitsConversionCostsDirectMaterialsFresh Spring purchases artesian water, stores the water in large tanks, and thenruns the water through two processes: filtration and bottling. At Fresh Spring, wateris added at the beginning of the filtration process. Conversion costs are addedevenly throughout the process.Done- X(...)More infoNow assume that in February, 135,000 liters were completed and transferred out of the FiltrationDepartment and into the Bottling Department.i (Click the icon to view the additional information.)Compute the equivalent units of production for direct materials and conversion costs for the FiltrationDepartment.The 45,000 liters remaining in Filtration's ending Work-in-Process Inventory were80% of the way through the filtration process. Fresh Spring has no beginninginventories.PrintData tableWaterWages of workers operating the filtration equipmentManufacturing overhead allocated to filtrationDonePrintDone$- X23,95024.050150,000X

Name: >>>>>___ Fresh Spring produces premium bottled water.i (Click the icon
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: >>>>>___ Fresh Spring produces premium bottled water.i (Click the icon to view the additional information.)During February, the filtration process incurred the following costs in processing 180,000 liters:(Click the icon to view the costs.)Fresh Spri

Business

Accounting

Fresh Spring produces premium bottled water. i (Click the icon to view the additional information.) During February, the filtration process incurred the following costs in processing 180,000 liters: (Click the icon to view the costs.) Fresh Spring Production Cost Report - Filtration Department (Partial) Month Ended February 28 UNITS Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for More info Physical Units Equivalent Units Conversion Costs Direct Materials - X G More info Now assume that in February, 135,000 liters were completed and transferred out of the Filtration Department and into the Bottling Department. i (Click the icon to view the additional information.) Compute the equivalent units of production for direct materials and conversion costs for the Filtration Department. The 45,000 liters remaining in Filtration's ending Work-in-Process Inventory were 80% of the way through the filtration process. Fresh Spring has no beginning inventories. Print Data table Done X - X

Fresh Spring produces premium bottled water. i (Click the icon to view the additional information.) During February, the filtration process incurred the following costs in processing 180,000 liters: (Click the icon to view the costs.) Fresh Spring Production Cost Report - Filtration Department (Partial) Month Ended February 28 UNITS Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for More info Physical Units Equivalent Units Conversion Costs Direct Materials - X G More info Now assume that in February, 135,000 liters were completed and transferred out of the Filtration Department and into the Bottling Department. i (Click the icon to view the additional information.) Compute the equivalent units of production for direct materials and conversion costs for the Filtration Department. The 45,000 liters remaining in Filtration's ending Work-in-Process Inventory were 80% of the way through the filtration process. Fresh Spring has no beginning inventories. Print Data table Done X - X

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...

See similar textbooks

Similar questions

Need some assistance please to see if I am on the right track. Thanks J & G Distilleries makes one of its products by way of three separate stages. Details of production for the month ending 31st January were as follows: Process Fermenting Distilling BottlingInput material: 65,000 litres $780,000 - -Material added - $89,000 -Direct Labour cost $114,600 $153,500 $225,600Manufacturing Overhead $122,000 $126,000 $193,100Normal losses 8% 5% 5%Output 55,000 litres 53,000 litres 48,000 litresScrap value of losses -…
Chavez Concrete Inc. has two production departments. Blending had 1,000 units in process at the beginning of the period, two-fifths complete. During the period 7,800 units were received from Mixing, 8,200 units were transferred to the finished goods storeroom, and 600 units were in process at the end of the period, 1/3 complete. The cost of the beginning work in process was: The costs during the month were: 1. Using the data in E5-15, prepare a cost of production summary for the month ended January 31, 2016. 2. Prepare a journal entry to transfer the cost of the completed units from Blending to the finished goods storeroom.
Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: a. All materials are added at the beginning of the process. b. Beginning work in process had 80,000 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 17,000 units, 25 percent complete with respect to conversion costs. d. Started in process, 95,000 units. Required: 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method.
M Company must transfer the costs of completed gallons of house paint from the Mixing Department to the Finishing Department at month end. The amount being transferred is $2,136,750. Required: Prepare journal entry to record this transaction
J & G Distilleries makes one of its products by way of three separate stages. Details ofproduction for the month ending 31st January were as follows:ProcessFermenting Distilling BottlingInput material: 65,000 litres $780,000 - -Material added - $89,000 -Direct Labour cost $114,600 $153,500 $225,600Manufacturing Overhead $122,000 $126,000 $193,100Normal losses 8% 5% 5%Output 55,000 litres 53,000 litres 48,000 litresScrap value of losses - $18.00/litre $30.00/litreThe nature of the process requires equipment to be cleaned at the end of each month; hencethere is no opening or closing stock of product in process.Required:i) The process account for each process: andii) The abnormal loss/gain account(s) showing J & G’s true loss/gain
In December, Davis Company had the following cost flows: Molding Department Grinding Department Finishing Department Direct materials $111,600 $30,000 $17,200 Direct labor 8,000 13,600 11,600 Applied overhead 8,400 60,400 11,200 Transferred-in cost: From Molding 128,000 From Grinding 232,000 Total cost $128,000 $232,000 $272,000 Required: 1. Prepare the journal entries to transfer costs from (a) Molding to Grinding, (b) Grinding to Finishing, and (c) Finishing to Finished Goods. 2. CONCEPTUAL CONNECTION: Explain how the journal entries differ from a job-order cost system. CHART OF ACCOUNTS Davis Company General Ledger ASSETS 110 Cash 120 Accounts Receivable 130 Raw Materials 142 Work in Process-Grinding 143 Work in Process-Molding 144 Work in Process-Finishing 150 Overhead Control 160 Finished Goods 180 Accumulated Depreciation LIABILITIES 210 Accounts Payable 220 Wages Payable 230 Utilities Payable 240 Lease Payable 250 Other Payables EQUITY 310 Common Stock 320 Retained…
Calculating conversion costs and unit cost—FIFO methodSpring Fresh produces premium bottled water. Spring Fresh purchases artesian Water, stores the water in large tanks, and then runs the water through two processes: filtration and bottling. During February, the filtration process incurred the following costs in processing 200,000 liters: Spring Fresh had no beginning Work-in-Process Inventory in the Filtration Department in February. Requirements Use the FIFO method to compute the February conversion costs in the Filtration Department. The Filtration Department completely processed 200,000 liters in February. Use the FIFO method to determine the filtration cost per liter.
The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department received 64,880 liters from the Purifying Department. During the period, the Bottling Department completed 62,350 liters, including 2,900 liters of work in process at the beginning of the period. The ending work in process was 5,430 liters. How many liters were started and completed during the period?______________ liters started and completed
Work in process account data for two months; cost of production reports Hearty Soup Co. uses process costing to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process-Filling on April 1 and debits to the account during April were as follows: Bal., 800 units, 30% completed: Direct materials (800 x $4.30) Conversion (800 x 30% × $1.75) From Cooking Department, 7,800 units Direct labor Factory overhead From Cooking Department, 9,600 units Direct labor Factory overhead During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed. Charges to Work in Process-Filling for May were as follows: ACCOUNT Department During May, the units in process at the beginning of the month were completed, and of the 9,600 units entering the department,…
The following data were taken from the records of Winner Company for the month of October:Work in process, October 1 10,000 unitsStarted during October 40,000 unitsCompleted and transferred to next department 33,000 unitsAbnormal spoilage incurred 2,000 unitsWork in process, October 31 15,000 unitsMaterials are added after quality control inspection at the end of the process. As to conversion cost, the beginning work in process was 70% complete while the ending work in process is 40% complete.1.) Using the weighted average method, the equivalent units of production for conversion was: 2.) Using the FIFO method, the equivalent units of production for materials was:
[The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 875,840 $ 27,150 3,658 $ 30,800 552,450 323,390 5906,640 Direct Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory 2,500 100% 20% Units started this period 43,500 Completed and transferred out 43,000 Ending work in process inventory 3,000 100% без Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Unit Reconciliation Units to account for Total units to account for Units accounted for Total units accounted for Equivalent Units of Production (EUP) Equivalent units of production Cost per EUP Total costs -Equivalent units of production Cost per equivalent…
Work in process account data for two months; cost of production reports Hearty Soup Co. uses process costing to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process- Filling on April 1 and debits to the account during April were as follows: 1 Bal., 800 units, 30% completed: Direct materials (800 x $4.30) Conversion (800 x 30% x $1.75) From Cooking Department, 7,800 units Direct labor Factory overhead During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed. Charges to Work in Process-Filling for May were as follows: From Cooking Department, 9,600 units Direct labor Factory overhead $44,160 12,042 6,878 During May, the units in process at the beginning of the month were completed, and of the 9,600 units entering the…