Hua Corp. manufactures hats. All material is placed in process at the beginning of the period in Department A and the process and the conversion costs are added evenly throughout the process. Upon completion the goods are immediately transferred to Department B.      Department A -Month of April 20xx.   Status:   -Work in process 3/31/xx conversion                  Units  completed at a cost of $300,000                       20,000 ($250,000 material and $50,000 conversion)   -Units started during April                                 50,000 -Units completed during April                           30,000 -Work in process April 30th were 50%             40,000   Completed for conversion -Direct material cost added during April         $450,000 -Conversion cost added during April                $100,000   Required: Prepare the 5 step production cost report

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Problem  7.

Hua Corp. manufactures hats. All material is placed in process at the beginning of the period in Department A and the process and the conversion costs are added evenly throughout the process. Upon completion the goods are immediately transferred to Department B.

    

Department A -Month of April 20xx.

 

Status:

 

-Work in process 3/31/xx conversion                  Units

 completed at a cost of $300,000                       20,000

($250,000 material and $50,000 conversion)

 

-Units started during April                                 50,000

-Units completed during April                           30,000

-Work in process April 30th were 50%             40,000

  Completed for conversion

-Direct material cost added during April         $450,000

-Conversion cost added during April                $100,000

 

Required:

Prepare the 5 step production cost report

                  

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