| Fullerton Aggregate processes raw shale into lightweight aggregate material. Fullerton has only one production department. This department heat treats shale and injects it with fly ash as it passes through rotating kilns. The shale both expands and hardens in the process, and is ideally suited to road construction. Fullerton uses the weighted-average process costing method to account for production. The following information is available for a recent period: | |||
| Beginning work in process on September 1 consisted of 80,000 tons that were 70% complete with respect to raw materials and 40% complete with respect to conversion costs. | |||
| Ending work in process on September 30 consisted of 50,000 tons that were 80% complete with respect to raw materials and 30% complete with respect to conversion costs. | |||
| 905,000 tons of material were put into production, and 935,000 tons exited production. There is no spoilage or loss of tonnage in the production process. | |||
| Beginning work in process carried a total cost of $274,000 (direct materials: $119,000, direct labor: $61,000,and factory overhead: $94,000). Additional costs incurred during the month were $3,500,000 (direct materials: $1,800,000, direct labor: $1,100,000, and factory overhead: $600,000). | |||
| (a) | Prepare a cost of production report for September. | ||
| (b) | Prepare journal entries to reflect 1) the introduction of additional costs during September, and 2) the transfer of completed units to finished goods. | ||
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more