Question

Ashley Electronics makes game consoles 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 Inventory on October 31 (Click the icon to view additional information.) Read the requirements Requirement 1 . Prepare a production cost report for the Assembly Department for November. The company uses the weighted-average method. (Complete all answer boxes. Enter a "O" for any zero balances. Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar Abbreviation used: EUP-equivalent units of production.) ▲ Ashley Electronics Production Cost Report-Assembly Department Month Ended November 30 Equivalent UnitsMore Info Physical Direct Conversi UNITS Units Materials Costs In mid-November, Ashley Electronics started production on 95,000 game consoles. Of this number, 68,000 game consoles were assembled during November and transferred out to the Programming Department. The November 30 Work-in-Process Inventory in the Assembly Department was 30% of the way through the assembly process. Direct materials costing 5280,250 were placed in production in Assembly during November, direct labor of $152,712 was assigned, and manufacturing overhead of $69,500 was allocated to that department. Units to account for Total units to account for Units accounted for Print Done Total units accounted for Direct Conversion Total COSTS Materials Costs Costs Costs to account for. Total costs to account for Cost per equivalent unit Costs accounted for Total costs accounted for Requirement 2. Prepare a T-account for Work-in-Process inventoryAssembly to show its activity during November, including the November 30 balance Work-in-Process Inventory-Assembly Bal. Oct. 31

Answer 1

Bal. Oct. 31 Direct materials Work in progress Inventory - Assembly SO $399,160 Transferred to programming $280,250 Ashley Electronics Production cost Report-Assembly Department Month Ended November 30 Physical Direct Flow of production Units Materials Conversion Units to account for Beginning work in process inventory Started during period 95.000 Total unit to account for 95.000 Direct labor Manufacturing overhead Bal. Nov. 30 $152.712 $69.500 $103,302 Units account for: Units completed Ending work in process inventory Total unit account for 68,000 27,000 95,000 68,000 27.000 95,000 68.000 8.100 76.100 Costs Direct Materials Conversion Totals Costs to account for Beginning work in process costs Costs added during period Total costs to account for (a) Equivalent units (b) Cost per equivalent unit SO $280.250 $280,250 95,000 $2.95 SO $222.212 $222.212 76.100 $2.92 $502.462 $502.462 Cost accounted for Completed and transferred out units Ending work in process costs Total Costs accounted for $399,160 $103.302 $502.462 $200,600 $79,650 $280,250 $198,560 $23,652 $222.212