(Solved) General Fabricators assembles its product in several departments. It has two departments that ...

General Fabricators assembles its product in several departments. It has two departments that process all units. During October, the beginning work in process in the cutting department was half completed as to conversion, and complete as to direct materials. The beginning inventory included $12,000 for materials and $3,000 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials are added at the beginning of the process.

Beginning work in process in the finishing department was 75% complete as to conversion. Direct materials are added at the end of the process. Beginning inventories included $16,000 for transferred-in costs and $20,000 for conversion costs. Ending inventory was 25% complete. Additional information about the two departments follows:

   Cutting   Finishing
Beginning work-in-process units   20,000   20,000
Units started this period   40,000   50,000
Units transferred this period   50,000
Ending work-in-process units   10,000   20,000
Material costs added   $48,000   $28,000
Direct manufacturing labour   $16,000   $40,000
Other conversion costs   $8,000   $24,000

Required:
Prepare a production cost worksheet using weighted-average for the cutting department and FIFO for the finishing department.

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General Fabricators assembles its product in several departments. It has two departments that ...

Cost Accounting: A Managerial Emphasis, Canadian Edition

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