Accounting
acu915Maple, 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: | $900 |
| Conversion cost | $5,900 |
| Cost added during May: | $151,000 |
| Conversion cost | $161,700 |
The company uses the weighted-average method.
Instructions:
Submit an Excel document, with each tab labeled by item number, which 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.
Provide your answers in a clearly organized Excel spreadsheet. Check spelling and formatting for readability. Document your sources. APA citations.
11 years ago
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maple_inc._-_process_accounting.docx
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- maple_inc_acu915.xlsx
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- maple_inc._manufactures.xls
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- production_cost_accounting_-weighted_average_method.xls
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- maple_inc..xls
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Maple, Inc. manufactures syrup that goes through three processing stages prior
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