ACCT 2250 Management Accounting

a) The Jackpots Dreams Cards Company is a card manufacturer. All direct materials andconversion costs are applied to all of Proball Trading Cards’ products at an even rate throughoutthe manufacturing process.For August, the beginning work in process inventory for the Finishing Department was 9,600 unitsthat averaged 65 percent complete. Ending work in process inventory was 18,500 unitsaveraging 45 percent complete. Production data shows 188,400 units were started during theperiod. Beginning work in process inventory costs totaled $11,282 including $7,296 forconversion costs. For the month of August, additional costs totaling $75,264 for direct materialsand $111,034 for conversion costs were added in the production department during the period.1) Prepare in good form a process report.2) Prepare the journal entry to move costs to finished goods.3) Prepare any journal entry, if required, for costs remaining in WP

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