I need urgent answer I'll give you more likes. PROBLEMSRound off all amounts to three decimal places.6-1. Cost of production report; normal spoilage. Malamud Company uses process costing. Allmaterials are added at the beginning of the process. The product is inspected when it is 80%converted, and spoilage is identified only at that point. Normal spoilage is expected to be 5% ofgood output.During March, 10,500 units were put into process. Current costs were $52,500 for materials;$39,770 for labor; and $31,525 for factory. overhead. The 3,000 units still in process at the end ofMarch were estimated to be 90% complete. All spoilage was normal. A total of 7,000 units weretransferred to finished goods.Required: A cost of production report for March.

The cost of production report is a summary of the production and cost activity in a given department…

PROBLEMS Round off all amounts to three decimal places. 6-1. Cost of production report; normal spoilage. Malamud Company uses process costing.. Al materials are added at the beginning of the process. The product is inspected when it is 80% converted, and spoilage is identified only at that point. Normal spoilage is expected to be 5% o good output. During March, 10,500 units were put into process. Current costs were $52,500 for materials $39,770 for labor; and $31,525 for factory. overhead. The 3,000 units still in process at the end o March were estimated to be 90% complete. All spoilage was normal. A total of 7,000 units were transferred to finished goods. Required: A cost of production report for March.

PROBLEMS Round off all amounts to three decimal places. 6-1. Cost of production report; normal spoilage. Malamud Company uses process costing.. Al materials are added at the beginning of the process. The product is inspected when it is 80% converted, and spoilage is identified only at that point. Normal spoilage is expected to be 5% o good output. During March, 10,500 units were put into process. Current costs were $52,500 for materials $39,770 for labor; and $31,525 for factory. overhead. The 3,000 units still in process at the end o March were estimated to be 90% complete. All spoilage was normal. A total of 7,000 units were transferred to finished goods. Required: A cost of production report for March.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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