80.2K

Verified Solution

Link Copied!

OLLLLLLS UTILU OLVIJU,LUU W45 allocated to that department. Requirements 1. Prepare a production cost report for the Assembly Department for November. The company uses the weighted average method. 2. Prepare a T-account for Work-in-Process Inventory-Assembly to show its activ- ity during November, including the November 30 balance. P18-33A Preparing a production cost report, beginning WIP, no costs transferred in; journal entries Roan Paper Co. produces the paper used by wallpaper manufacturers. Roan's four-stage process includes mixing, cooking, rolling, and cutting. On March 1, the Mixing Department had 300 rolls of paper in process. During March, the Mixing Department completed the mixing process for those 300 rolls and also started and completed the mixing process for an additional 4,200 rolls of paper. The department started but did not finish the mixing process for an additional 500 rolls, which were 20% complete with respect to both direct materials and conversion work at the end of March. Direct materials and conversion costs are incurred evenly throughout the mixing process. The Mixing Department com- piled the following data for March: Manufacturing Overhead Allocated Beginning inventory, Mar. 1 Costs added during March Total costs Direct Materials $ 350 4,940 $ 5,290 Direct Labor $ 245 3,000 $ 3,245 $ 200 3,225 $ 3,425 Total Costs $ 795 11,165 $ 11,960 Requirements 1. Prepare a production cost report for the Mixing Department for March. The com- pany uses the weighted average method. 2. Journalize all transactions affecting the company's mixing process during March. Assume labor costs are accrued and not yet paid. 18-34A Preparing a production cost report, two materials added at different points, no beginning WIP or costs transferred in; journal entries

Answer & Explanation Solved by verified expert

See Answer