won ton soup co uses a process cost system to record the costs of processing soup wh 647626

Won Ton Soup Co. uses a process cost system to record the costs of processing soup, which requires a series of three processes. The inventory of Work in Process—Filling on July 1 and debits to the account during July 2008 were as follows:

Bal., 2,000 units, 30% completed:

Don't use plagiarized sources. Get Your Custom Essay on
won ton soup co uses a process cost system to record the costs of processing soup wh 647626
Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT!
Order Essay

 

Direct materials (2,000 × $3.20)

$6,400

Conversion (2,000 × 30% × $1.25)

750

 

$7,150

From Cooking Department, 126,000 units

$409,500

Direct labor

93,345

Factory overhead

71,950

During July, 2,000 units in process on July 1 were completed, and of the 126,000 units entering the department, all were completed except 2,500 units that were 90% completed.

Charges to Work in Process—Filling for August were as follows:

From Cooking Department, 138,000 units

$455,400

Direct labor

101,480

Factory overhead

77,578

During August, the units in process at the beginning of the month were completed, and of the 138,000 units entering the department, all were completed except 4,000 units that were 35% completed.

Instructions

1. Enter the balance as of July 1, 2008, in a four column account for Work in Process— Filling. Record the debits and the credits in the account for July. Construct a cost of production report, and present computations for determining (a) equivalent units of production for materials and conversion, (b) equivalent costs per unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in July, and (d) work in process inventory.

2. Provide the same information for August by recording the August transactions in the four column work in process account. Construct a cost of production report, and present the August computations (a through d) listed in part (1).

3. Comment on the change in cost per equivalent unit for June through August for direct materials and conversion costs.

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

Why Choose Us

Top quality 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.

Professional academic 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.

Free revisions

If you feel that we missed something, send the order for a free revision. You will have 10 days to send the order for revision after you receive the final paper. You can either do it on your own after signing in to your personal account or by contacting our support.

On-time 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. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & confidential

We use several checkers to make sure that all papers you receive are plagiarism-free. Our editors carefully go through all in-text citations. We also promise full confidentiality in all our services.

24/7 Customer Support

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

Place your order

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

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

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

Our Services

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

Essays

Essay Writing Service

You are welcome to choose your academic level and the type of your paper. Our academic experts will gladly help you with essays, case studies, research papers and other assignments.

Admissions

Admission help & business writing

You can be positive that we will be here 24/7 to help you get accepted to the Master’s program at the TOP-universities or help you get a well-paid position.

Reviews

Editing your paper

Our academic writers and editors will help you submit a well-structured and organized paper just on time. We will ensure that your final paper is of the highest quality and absolutely free of mistakes.

Reviews

Revising your paper

Our academic writers and editors will help you with unlimited number of revisions in case you need any customization of your academic papers