Dulang Sdn. Bhd. is a manufacturer that uses the First in First out (FIFO) process costingmethod to account for costs of production. It produces a baking tray in the two processingdepartment, Molding and Finishing. The following information was obtained for the MoldingDepartment for the month of June 2022.Work in process on 1 June 2022 had 10,000 units made up of the following information:Cost Data :Amount (RM)8,0002,8002,840During June 2022, 50,000 units were started in Molding Department and incurred thefollowing costs;Required:a)Direct materialsDirect laborManufacturing overheadi.At the end of June 2022, 20,000 units were still in process and degree of completion of workin process inventory was direct material; 90 percent, direct labor and manufacturingoverhead; 70 percent.ii.iii.Cost Data :iv.Degree ofCompletion100%60%60%Direct materialsDirect laborManufacturing overheadPrepare the production cost report for the month ended 30 June 2022. The reportshould show;Amount (RM)38,40014,00020,860Equivalent units of production.Cost per equivalent unit.Cost of unit transferred to the Finishing Department.Cost of the work-in-process inventory on 30 June 2022.

The equivalent units are calculated on the basis of percentage of the work completed during the…

Dulang Sdn. Bhd. is a manufacturer that uses the First in First out (FIFO) process costing method to account for costs of production. It produces a baking tray in the two processing department, Molding and Finishing. The following information was obtained for the Molding Department for the month of June 2022. Work in process on 1 June 2022 had 10,000 units made up of the following information: Cost Data : Amount (RM) Required: During June 2022, 50,000 units were started in Molding Department and incurred the following costs; a) Direct materials Direct labor Manufacturing overhead i. Cost Data : ii. Direct materials Direct labor Manufacturing overhead At the end of June 2022, 20,000 units were still in process and degree of completion of work in process inventory was direct material; 90 percent, direct labor and manufacturing overhead; 70 percent. 8,000 2,800 2,840 Degree of Completion 100% 60% 60% Prepare the production cost report for the month ended 30 June 2022. The report should show; Equivalent units of production. Cost per equivalent unit. Amount (RM) 38,400 14,000 20,860

Dulang Sdn. Bhd. is a manufacturer that uses the First in First out (FIFO) process costing method to account for costs of production. It produces a baking tray in the two processing department, Molding and Finishing. The following information was obtained for the Molding Department for the month of June 2022. Work in process on 1 June 2022 had 10,000 units made up of the following information: Cost Data : Amount (RM) Required: During June 2022, 50,000 units were started in Molding Department and incurred the following costs; a) Direct materials Direct labor Manufacturing overhead i. Cost Data : ii. Direct materials Direct labor Manufacturing overhead At the end of June 2022, 20,000 units were still in process and degree of completion of work in process inventory was direct material; 90 percent, direct labor and manufacturing overhead; 70 percent. 8,000 2,800 2,840 Degree of Completion 100% 60% 60% Prepare the production cost report for the month ended 30 June 2022. The report should show; Equivalent units of production. Cost per equivalent unit. Amount (RM) 38,400 14,000 20,860

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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