You are given a choice of taking the simple interest on 100,000 invested for 2 years

Christine Carpet manufactures broadloom carpet in seven processes: spinning, dyeing, plying, spooling, tufting, latexing, and shearing. In the Dyeing Dept. the direct materials (dye) are added at the beginning of the process. Conversion costs are incurred evenly throughout the process. Christine uses weight-average process costing. Information for March 2011 follows:

Requirement

1. Timeline for Christine's Dyeing Department

2. Use the timeline to help you compute the equivalent unit, and total costs to account for in Christine's Dyeing Department for March.

3. Prepare the March production cost report for Christine's Dyeing Department.

4. Journalize all transactions affecting Christine's Dyeing Department during March, including the entries that have already been posted.

Units:
Beginning work in process inventory.................................75 rolls
Transferred in from Spinning Dept. during March...............560 rolls
Completed during March...............................................500 rolls
Ending work in process (80% complete as to conversion
work.......................................................................135 rolls

Costs:
Beginning work in process (transferred-in cost, $4,500;
material cost, $1,575 conversion costs, $5,199)..............$11,274

Transferred in from Spinning Dept. during March................$21,535
Materials cost added during March..................................$11,760
Conversion costs added during March (manufacturing
wages, $8,445; manufacturing overhead, $43,508............$51,953

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