aquinomoises518

24.06.2020 • 

Business

Cold Spring produces premium bottle water. Cold Spring purchases artesian water, stores the water in large tanks, and then runs the water through 2 processess; filtration and bottling. During February, the filtration process incurred the following costs in processing 190,000 liters: -Wages of workers operating the filtration equipment - $21,950
-Manufacturing overhead allocated to filtration - $25,050
-Water - $150,000
Cold Spring had no beginning inventory in the filtration department in February.
Requirements:
R1) Compute the February Conversion costs in the filtration department.
R2) The filtration department completely processed 190,000 liters in February. What was the filtration cost per liter?
At Cold Spring, water is added at the beginning of the filtration process. Conversion costs are added evenly throughout the process. Now assume that in February, 125,000 liters were completed and transferred out of the filtration department into the bottling department. The 65,000 units remaining in filtration's ending work in process inventory were 80% of the way through the filtration process. Recall that Cold Spring had no beginning inventories.
R3) Draw a timeline for the filtration process.R4) Compute the equivalent units of direct materials and conversion costs for the filtration department.

Ответ:

lil2524

07.11.2021

Business

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Work In Process Inventory  $66,000

Manufacturing overhead  $15,000

      To  Raw Materials Inventory    $81,000

Explanation:

The journal entry is shown below;

Work In Process Inventory  $66,000

Manufacturing overhead  $15,000

      To  Raw Materials Inventory    $81,000

(Being the transfer of material is recorded)

here the work in process inventory and manfacturing overhead is debited as it increased the assets and expense and credited the raw material inventory as it reduced the assets

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