Using the weighted average method prepare a process cost

Reference no: EM13600909

Seebohm Fabrication Ltd manufactures frames for bicycles. Each frame passes through three processes: Cutting, Welding and Painting. In September, the Cutting Department of the Elizabeth plant reported the following data:

a. In Cutting, all direct materials are added at the beginning of the process.
b. Beginning work in process inventory consisted of 40,500 units, 20 percent complete as to conversion. Costs attached to this inventory:
o Direct materials, $1,215,000.
o Direct labour, $222,600.
o Applied overhead, $150,000.
c. Costs added to production during the month were direct materials, $2,565,000; direct labour, $3,471,150.

Overhead was assigned using the following information:
Inspection: $150 per inspection hour @ 4,000 inspection hours
Maintenance $750 per maintenance hour @ 1,600 maintenance hours
Receiving $300 per receiving order @ 2,000 receiving orders

d. At the end of the month, 121,500 units were transferred out to Welding, leaving 13,500 units in ending work in process, 25 percent complete.

Required (show all workings):
1. Using the Weighted Average method prepare a process cost report for the Cutting Department for September. Round to 4 decimal places for unit costs and to the nearest dollar in the process cost report. Prepare a journal entry that transfers the goods from Cutting to Welding.

Reference no: EM13600909

Questions Cloud

Physicians practicing in eastern universitys hospital have : physicians practicing in eastern universitys hospital have the following compensation agreement. each doctor bill the

Supposed that the amount of saving that occurs at each : linear equations for the consumption and saving schedules take the general from c a by and s - a 1-by where cs and

On january 1 2007 the horton corporation issued 10 bonds : on january 1 2007 the horton corporation issued 10 bonds with a face value of 200000. the bonds are sold for 196000.

Hbr delicatessen sells specialty sandwiches currently their : hbr delicatessen sells specialty sandwiches. currently their equipment can produce 60 sandwiches per hour with a fixed

Using the weighted average method prepare a process cost : seebohm fabrication ltd manufactures frames for bicycles. each frame passes through three processes cutting welding and

What are abercrombie amp fitchs significant accounting : access the 2007 10-k for abercrombie amp fitch www.abercrombie.com a compute the following ratios for abercrombie amp

All sales are on account collections are expected to be 50 : haas company prepares monthly cash budgets. relevant data from operating budgets for 2011 arejanuary februarysales

Colt industries had sales in 2010 of 6400000 and gross : colt industries had sales in 2010 of 6400000 and gross profit of 1100000. management is considering two alternative

Explain why the existing 310000 of fixed costs is a sunk : sales 950000 variable costs 450000 fixed costs 310000 a proposed addition to farrells factory is estimated by the

User Account

All Pages