Problem - Comas Corporation manufactures metal roofing in two departments: Pressing and Painting. Sheets of metal material are formed in the Pressing Department before being transferred to the Painting Department. The following information was taken from the company's general ledger and cost accounting records on June 30:
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Work in Process: Pressing Department
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6/1
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Beginning balance
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$6,000
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6/30
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Transferred to Painting
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?
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6/30
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Direct materials
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25,500
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|
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6/30
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Direct labor
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8,200
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6/30
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Manufacturing overhead
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32,800
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6/30
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Ending balance
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?
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|
|
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Physical Units: Pressing Department
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|
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Units in process, June 1
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300 sheets
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Units transferred to Painting Department in June
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1,500 sheets
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Units in process, June 30
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500 sheets
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Percentages of Completion: Pressing Department
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Direct materials, June 1
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100%
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Conversion, June 1
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20
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Direct materials, June 30
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100%
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Conversion, June 30
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40
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a. Compute the number of sheets started by the Pressing Department in June.
b. Compute the number of units started and completed by the Pressing Department in June.
c. Compute the equivalent units of input resources for the Pressing Department in June.
d. Compute the cost per equivalent unit of input resource for the Pressing Department in June.
e. Prepare the summary journal entry required to transfer pressed sheets from the Pressing Department to the Painting Department in June.
f. Compute the total cost assigned to the Pressing Department's ending inventory on June 30.