Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulpin...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and spooled onto reels. The company uses the weighted-average method in its process costing system. Data for March for the Drying Department follow: Percent Completed Units Pulping Conversion Work in process inventory, March 1 3,000 100 % 80 % Work in process inventory, March 31 7,000 100 % 75 % Pulping cost in work in process inventory, March 1 $ 885 Conversion cost in work in process inventory, March 1 $ 360 Units transferred to the next production department 133,900 Pulping cost added during March $ 44,203 Conversion cost added during March $ 21,904 No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the Pulping Department. Wet fiber is processed in the Drying Department in batches; each unit in the above table is a batch and one batch of wet fibers produces a set amount of dried paper that is passed on to the Finishing Department.
Required: 1. Compute the Drying Department's equivalent units of production for pulping and conversion in March. 2. Compute the Drying Department's cost per equivalent unit for pulping and conversion in March. 3. Compute the Drying Department's cost of ending work in process inventory for pulping, conversion, and in total for March. 4. Compute the Drying Department's cost of units transferred out to the Finishing Department for pulping, conversion, and in total in March. 5. Prepare a cost reconciliation report for the Drying Department for March.
Homework Answers
1) Equivalent unit
| Physical unit | EUP-Pulping | EUP-Conversion | |
| Unit transferred out | 133900 | 133900 | 133900 |
| Ending work in process | 7000 | 7000 | 7000*75% = 5250 |
| Equivalent unit | 140900 | 140900 | 139150 |
2) cost per equivalent unit
| Pulping | Conversion | |
| Beginning WiP | 885 | 360 |
| Cost added | 44203 | 21904 |
| Total Cost | 45088 | 22264 |
| Equivalent unit | 140900 | 139150 |
| Cost per equivalent unit | 0.32 | 0.16 |
3) cost of ending work in process
| Pulping | Conversion | Total | |
| Cost of ending work in process | 2240 | 840 | 3080 |
4) cost of unit transferred out
| Pulping | Conversion | Total | |
| Cost of unit transferred out | 42848 | 21424 | 64272 |
5) Cost reconciliation
| Cost to be accounted for | |
| Beginning WIP | 1245 |
| Cost added | 66107 |
| Total Cost to be accounted for | 67352 |
| Cost accounted as | |
| Cost of unit transferred out | 64272 |
| Cost of ending WIP | 3080 |
| Total Cost accounted as | 67352 |
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Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulpin...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department,...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments Pulping, Drying, and Finishing. In the Pulping...
Scribners Corporation produces fine papers in three production departments Pulping, Drying, and Finishing. In the Pulping Department. raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut,...
Scribners Corporation produces fine papers in three production departments-Pulping. Drying, and Finishing. In the Pulping Department,...
Scribners Corporation produces fine papers in three production departments-Pulping. Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department,...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the Pulping Department,...
Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department,...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department,...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department,...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department,...
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the Pulping Department,...
Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments Pulping, Drying, and Finishing. In the Pulping Department. raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut,...
Scribners Corporation produces fine papers in three production departments-Pulping. Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and...
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