Chapt 17 Homework – 2 problems1.
The HoneyButter Company makes flavored butter in 1 pound containers. At the beginning of March, the firm’s Mixing Department already had 10,000 pounds of butter in production. Duringthe month, the firm started 100,000 pounds, and completed 95,000 pounds and transferred them to the Packaging Department. All direct materials are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The Weighted Average method of process costing is used by HoneyButter. Beginning work in process was 25% complete as to conversion costs, while ending work in process was 20% complete as to conversion costs. Other information about costs to date follow:
Beginning inventory: Manufacturing costs added during the March accounting period
Direct materials costs $ 1,800 Direct materials costs$154,400
Conversion costs$ 7,200 Conversion costs$ 90,800
REQUIRED:Complete and submit the following table including the T-Accounts. You can create your own ‘new’ file or use this WORD document