NO Chart was provided.
Spectre Chemicals produces Canovic in a two-department process.Information on the two departments for March and April 2016 are asfollows:
MARCH 2016:
Department 1: The Company had beginninginventory of 6,000 units, 40% completed with a cost of $45,000.During the month, the department transferred in 22,000 units of thedirect materials with a cost of $10 per unit. Ending inventory was7,000 units, 30% completed. Direct labor is $310,500 and factoryoverhead is $103,500.
Department 2: The Company had beginninginventory of 5,000 units, 70% completed with a cost of $80,000.During the month, direct labor was $175,000 and factory overheadwas $87,500. Ending inventory was 10,000 units, 50% completed.
APRIL 2016:
Department 1: During the month, the departmenttransferred in 20,000 units of the direct materials with a cost of$11 per unit. Direct labor is $209,000 and factory overhead is$104,500. Ending inventory is 10,000 units 60% completed.
Department 2: During the month, direct labor is$175,000 and factory overhead is $87,500. The company had endinginventory of 5,000 units, 70% completed with a cost of $80,000.Required:
-Compute the Equivalent Units of Production, Material costs, andConversion costs for each department for March and April 2014.
-Complete the attached chart – one for each department and eachmonth.
-Prepare a cost of production report for March and April2014.