Materials 100% complete, conversion cost 40% complete Materials 100% complete, conversion cost 20% complete arted in process during the period its completed and transferred to the next department its completed and transferred to finished goods inventory ork in process inventory, end: Materials 100% complete, conversion cost 60% complete Materials 100% complete, conversion cost 30% complete 4,000 6,000 40,000 34,000 38,000 10,000 2,000 sts: sts of beginning work in process inventory transferred in 40,000 sts of beginning work in process inventory from this dept. Materials 14,000 15,840 29,840 12,000 13,520 25,520 Conversion costs Total st added during the period: Materials Conversion costs tal 140,000 140,160 280,160 80,000 110,000 190,000
Materials 100% complete, conversion cost 40% complete Materials 100% complete, conversion cost 20% complete arted in process during the period its completed and transferred to the next department its completed and transferred to finished goods inventory ork in process inventory, end: Materials 100% complete, conversion cost 60% complete Materials 100% complete, conversion cost 30% complete 4,000 6,000 40,000 34,000 38,000 10,000 2,000 sts: sts of beginning work in process inventory transferred in 40,000 sts of beginning work in process inventory from this dept. Materials 14,000 15,840 29,840 12,000 13,520 25,520 Conversion costs Total st added during the period: Materials Conversion costs tal 140,000 140,160 280,160 80,000 110,000 190,000
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 32P: Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a...
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Question
Assume the following data of ABC Corporation for the month of January, 2017
Requirement:
Prepare cost of production report using FIFO and Average Method for Department 1 and Department 2.
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