Scribners Corporation produces fine papers in three producti

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 22:13 Percent Completed Units Pulping 2,500 7,600 rsion 80% 75% Work in process inventory, March 1 Work in process inventory, Harch 31 Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, March 1 Units transferred to the next production department Pulping cost added during Marc Conversion cost added during March 100% 100% s1,050 600 145,860 $ 66,894 $ 41,596 ces 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. the Drying Department\'s cost of ending work in process inventory for pulping. conversion, and in total for March. 3. Compute 4. Compute the Drying Departme March nt\'s cost of units transferred out to the Finishing Department for pulping, conversion, and in total in Prey 1 of 3 Next> X! Book3 . Excel (Produ X1 Book2. Eace Pre. AVG AntiVius ?| Book1 . Excel (Produ.. ? e ?Connect-Google c..

Solution

Weighted average cost Beggining units 2500 Transferred out 1,45,000 Started intro production 150100 Ending units 7,600 Units accounted for 152600 152600 Equivalent units Material Conversion cost Units transferred                      A 145000 145000 Ending Units 7,600 7,600 Completion 100% 75% B 7600 5700 Total units 152600 150700 Cost per equivalent units Particulars Material Conversion cost total As at beginning 1050 600 1650 Added during the month 66094 41596 107690 Cost to be accounted for 67144 42196 109340 Total eqivalent units 152600 150700 Cost per equivalent unit 0.44 0.28 0.72 Cost per equivalent unit = Cost to be accounted for / Total equivalent units Cost of ending work in progress Conversion cost Particulars Material Total Ending units 7,600 7,600 Cost per equivalent units 0.44 0.28 Completion 100% 75% Total cost 3344 1596 4940 Cost of goods transferred Conversion cost Particulars Material Total Number of units 145000 145000 Cost per equivalent units 0.44 0.28 0.72 Total amount 63800 40600 104400 Reconciliation report Cost of goods transferred 104400 Add Work in proress ending Material                                      3344 Conversion cost                        1596 4940 Total cost accounted for 109340