Production Data (50 points)

timer Asked: Dec 1st, 2013

Question Description

Production Data (50 points) 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. Submit an Excel document which each tab labeled by item number in good form that demonstrates the following: Compute the equivalent units of production. Compute the costs per equivalent unit for the month. Determine the cost of ending work in process inventory and of the units transferred out to the next department. Prepare a cost reconciliation schedule for the month.

This question has not been answered.

Create a free account to get help with this and any other question!

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors