ASSESSMENT PROBLEM COST OF PRODUCTION REPORT1. Todd’s Garden Company manufactures a fertilizer known as Great Garden. The manufacturing process begins in the Grading Department when raw materials are started in process. Upon completion of processing in the Grading Department, the output is transferred to the Saturating Department for the final phase of production. Here the product is saturated with water and then dried again. There is no weight gain in the process, and the water is free. The followin

ASSESSMENT PROBLEM COST OF PRODUCTION REPORT

1. Todd’s Garden Company manufactures a fertilizer known as Great Garden. The manufacturing process begins in the Grading Department when raw materials are started in process. Upon completion of processing in the Grading Department, the output is transferred to the Saturating Department for the final phase of production. Here the product is saturated with water and then dried again. There is no weight gain in the process, and the water is free. The following information is available for the month of February.

February 1 February 28
Work–in-Process Inventories: Quantity in pounds Cost Quantity in pounds
Grading Department None $0 None
Saturating Department 1,000 $54,000* 5,000*
Includes $4,000 in Saturating Department conversion costs.

The work-in-process inventory in the Saturating Department is estimated to be 50% complete both at the beginning and end of February.

Costs of production for February are as follows:
Costs of Production Materials Used ConversionGrading Department $280,000 $80,000Saturating Department $0 $34,500The material used in the Grading Department weighed 40,000 pounds.

INSTRUCTIONS:Prepare a Production report for the Grading Department and for the Saturating Department.

2. Cost Accounting

ACC221 PROCESS COSTING COMPUTATIONS

South River Chemical manufactures a product called Zbek. Direct Materials are added at the beginning of the process, and conversion activity occurs uniformly throughout production. The beginning work-in-process inventory is 60% complete with respect to conversion; the ending inventory work-in-process inventory is 20% complete. The following data pertain to May:

UNITS

Work in Process, May 1 15,000 Units started during May 60,000 Units completed and transferred out 68,000 Work in Process, May 31 7,000

TOTAL DIRECT CONVERSION MATERIALS COSTS

Costs:Work in Process, May 1 $41,250 $16,500 $24,750

Costs incurred during May 234,630 72,000 162,630

Totals $275,880 $88,500 $187,380

Compute the following amounts:
1. Using the weighted-average method of process costing, determine the equivalent units for direct material and conversion.
2. What is the cost per unit if direct materials and conversion activity?
3. Determine the cost of the goods completed and transferred during May.
4. Determine the cost of the ending work-in-process on May 31

Homework Market
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Homework Market

HomeworkMarket

Quality Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Homework Market

Qualified Writers

We have hired a team of professional writers experienced in academic and business writing. Most of them are native speakers and PhD holders able to take care of any assignment you need help with.

HomeworkMarket

Unlimited Revision

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account.

HomeworkMarket

Timely Delivery

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. We will always strive to deliver on time.

HomeworkMarket

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.

HomeworkMarket

Customer Support 24/7

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Homework Market

Place your order

Fill in the order form and provide all details of your assignment.

Homework Market

Proceed with the payment

Choose the payment system that suits you most.

Homework Market

Receive the final file

Once your paper is ready, we will email it to you.

Homework Market Writing Services

No need to work on essay at night. Sleep tight, we will cover your back. We offer all kinds of essay writing services.

HomeworkMarket HomeworkMrket

Essays

Essay Writing Services

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

HomeworkMarket HomeworkMarket

Admissions

Admission Essays

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

HomeworkMarket HomeworkMarket

Editing

Essay Editing

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

HomeworkMarket HomeworkMarket

Research Paper

Research Paper

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied.