Excel problems

Excel problems
ssignment 3: Excel Problems

At the end of each module, you will apply the module’s concepts by completing comprehensive assignments from the textbook.

Complete problems P16A-17B (p. 898), P16A-19B (p. 899), P18-24A (p. 979), P18-26A (p. 980) in your textbook.

Present your analysis of the assigned problems in Excel format. Enter non-numerical responses in the same worksheet using textboxes.
The cost transferred into Finished Goods Inventory is the cost of the lifts transferred
out of the Testing Department. Sea\‘(/orthy uses weighted-average process costing.
Requirements
1. Draw a time line for the Testing Department.
2. Use the time line to compute the number of equivalent units of work performed
by the Testing Department during the period.
3. Compute Sea\Vorthy’s transferred-in and conversion costs per equivalent unit.
Use the unit costs to assign total costs to (a) units completed and transferred out
of Testing and (b) units in Testing’s Ending work in process inventory.
4. Compute the cost per unit for lifts completed and transferred out to Finished
goods inventory. Why would management be interested in this cost?
(Group B)
P16A-17B Computing equivalent units and assigning costs to completed units and ending
work in process; no beginning inventory or cost transferred in [30-45 min]
Sue Electronics makes CD players in three processes: assembly, programming, and
packaging. Direct materials are added at the beginning of the assembly process.
Conversion costs are incurred evenly throughout the process. The Assembly
Department had no work in process on March 31. In mid-April, Sue Electronics
started production on 100,000 CD players. Of this number, 76,100 CD players were
assembled during April and transferred out to the Programming Department. The
April 30 work in process in the Assembly Department was 40% of the way through
the assembly process. Direct materials costing $375,720 were placed in production
in Assembly during April, and direct labor of $15 7,700 and manufacturing overhead
of $98,505 were assigned to that department.
Requirements
1. Draw a time line for the Assembly Department.
2. Use the time line to help you compute the number of equivalent units and the
cost per equivalent unit in the Assembly Department for April.
3. Assign total costs in the Assembly Department to (a) units completed and trans-
ferred to Programming during April and (b) units still in process at April 30.
4. Prepare a T-account for Work in Process Inventory-Assembly to show its activ-
ity during April, including the April 30 balance.
P16A-18B Computing equivalent units and assigning costs to completed units and ending
work in process; no beginning inventory or cost transferred in [30-45 min]
Reed Paper, Co., produces the paper used by wallpaper manufacturers. Reed’s four-
stage process includes mixing, cooking, rolling, and cutting. During October, the
Mixing Department started and completed mixing for 4,420 rolls of paper. The depart-
ment started but did not finish the mixing for an additional 650 rolls, which were 25%
complete with respect to both direct materials and conversion work at the end of
October. Direct materials and conversion costs are incurred evenly throughout the
mixing process. The Mixing Department incurred the following costs during October:
Work in process inventory-mixing
Bal, Oct 1 0
Direct materials 5,675
Direct labor 570
Manufacturing overhead 6,240
898 Chapter 16

 

Requirements
1. Draw a time line for the .\/Iixing Department.

2. Use the time line to help you compute the number of equivalent units and the
cost per equivalent unit in the Mixing Department for October.

3. Show that the sum of (a) cost of goods transferred out of the Mixing Department
and (b) Ending Work in process inventory-Mixing equals the total cost accumu-
lated in the department during October.

4. journalize all transactions affecting the company’s mixing process during
October, including those already posted.

P16A-19B Computing equivalent units and assigning costs to completed units and
ending WIP inventory; two materials, added at different points; no beginning
inventory or cost transferred in [30-45 min]

Root’s Exteriors produces exterior siding for homes. The Preparation Department

begins with wood, which is chopped into small bits. At the end of the process, an

adhesive is added. Then the wood/adhesive mixture goes on to the Compression

Department, where the wood is compressed into sheets. Conversion costs are added

evenly throughout the preparation process. March data for the Preparation

Department are as follows (in millions):

Sheets Costs

Beginning work in process inventory 0 sheets Beginning work in process inventory $ 0

Started production 3,300 sheets Costs adding during March:
Completed and transferred out to \Wood 2,600
Compression in March 1,900 sheets Adhesives 1,365
Direct labor 640
Ending work in process inventory (45% Manufacturing overhead 2,445
of the way through the preparation process) 1,400 sheets Total costs $ 7,050

Requirements
1. Draw a time line for the Preparation Department.

2. Use the time line to help you compute the equivalent. (Hint: Each direct material
added at a different point in the production process requires its own equivalent-
unit computation.)

3. Compute the total costs of the units (sheets)

21. Completed and transferred out to the Compression Department.
b. In the Preparation Department’s Ending work in process inventory.

4. Prepare the journal entry to record the cost of the sheets completed and trans-
ferred out to the Compression Department.

5. Post the journal entries to the \Work in process inventory-Preparation T-account.
Vhat is the ending balance?

P16A-2oB Computing equivalent units for a second department with beginning
inventory; preparing a production cost report and recording transactions on
the basis of the report’s information; weig hted-average method [45-60 min]
Claudia Carpet manufactures broadloom carpet in seven processes: spinning, dye-
ing, plying, spooling, tufting, latexing, and shearing. In the Dyeing Department,
direct materials (dye) are added at the beginning of the process. Conversion costs are
incurred evenly throughout the process. Claudia uses weighted-average process cost-
ing. Information for July 2011 follows:

Job Order and Process Costing 899
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