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Homework answers / question archive / ACC 650 Complete Exercise 4-16 and Problem 4-29 in the textbook

ACC 650 Complete Exercise 4-16 and Problem 4-29 in the textbook

Accounting

ACC 650

Complete Exercise 4-16 and Problem 4-29 in the textbook.

Complete Exercise 4-16 in a Word document and Problem 4-29 in Excel. Please note, you must show your work in Excel, which includes providing the formulas in the cells, not just the summary value.

At least one external source should be cited, not including course textbook.

Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is not required.

4-29

Moravia Company processes and packages cream cheese. The following data have been compiled for the month of April. Conversion activity occurs uniformly throughout the production process.

Work in process, April 1—10,000 units:

Direct material: 100% complete, cost of .........................................................................................................$ 22,000

Conversion: 20% complete, cost of .................................................................................................................      4,500

Balance in work in process, April 1 ..................................................................................................................$ 26,500

Units started during April ......................................................................................................................................100,000

Units completed during April and transferred out to finished-goods inventory .................................................80,000

Work in process, April 30:

Direct material: 100% complete

Conversion: 33 1 ⁄ 3 % complete

Costs incurred during April:

Direct material ..................................................................................................................................................$ 198,000 Conversion costs:

Direct labor ...................................................................................................................................................$ 52,800 Applied manufacturing overhead ................................................................................................................  105,600

Total conversion costs .................................................................................................................................$158,400

Required: Prepare schedules to accomplish each of the following process-costing steps for the month of April. Use the weighted-average method of process costing.

1. Analysis of physical flow of units.

2. Calculation of equivalent units.

3. Computation of unit costs.

4. Analysis of total costs.

5. Build a spreadsheet:

Construct an Excel spreadsheet to solve all of the preceding requirements. Show how the solution will change if the following data change: the April 1 work-in-process costs were $66,000 for direct material and $18,000 for conversion.

4-16

Use the Internet to access the website for Weyerhaeuser (www.weyerhaeuser.com), International Paper (www.internationalpaper.com), or Boise Cascade (www.boisecascade.com).Required: Skim over the information presented on the website about the company’s products and operations. Then discuss why process costing is an appropriate product-costing method for this company.

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