QUESTION 1 The manufacturing company TOKYO S.A. produces only one product. The production of the product is completed in two consecutive Departments, namely Department A and Department B. On 1/4/2021, Department B has in work in process 8,000 units. The cost was €34,095 for raw materials and €29,100 for direct labor. In April 2021, 20,000 product units were added to the production (from Department A), for processing for which the cost of raw materials is €133,905 and for direct labor €222,000. Considering the following information: On 30/4/2021, Department B has 13,000 units of product in work in process, processed by 30% for direct labor and manufacturing overheads. All raw materials are added to Department B at the beginning of the production process (i.e., they have a 100% completion rate). The manufacturing overhead is applied to Department B based on direct labor at a rate of 110%. The company uses the weighted-average method to assess its inventories. Requirements Calculate the following: The equivalent units (: Prepare the cost of goods manufactured ( : The cost per equivalent unit /, The total amount of cost for end work in process inventory and units transferred out of Department B-

QUESTION 1 The manufacturing company TOKYO S.A. produces only one product. The production of the product is completed in two consecutive Departments, namely Department A and Department B. On 1/4/2021, Department B has in work in process 8,000 units. The cost was €34,095 for raw materials and €29,100 for direct labor. In April 2021, 20,000 product units were added to the production (from Department A), for processing for which the cost of raw materials is €133,905 and for direct labor €222,000. Considering the following information: On 30/4/2021, Department B has 13,000 units of product in work in process, processed by 30% for direct labor and manufacturing overheads. All raw materials are added to Department B at the beginning of the production process (i.e., they have a 100% completion rate). The manufacturing overhead is applied to Department B based on direct labor at a rate of 110%. The company uses the weighted-average method to assess its inventories. Requirements Calculate the following: The equivalent units (: Prepare the cost of goods manufactured ( : The cost per equivalent unit /, The total amount of cost for end work in process inventory and units transferred out of Department B-

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Description: QUESTION 1The manufacturing company TOKYO S.A. produces only one product. The production of the product iscompleted in two consecutive Departments, namely Department A and Department B.On 1/4/2021, Department B has in work in process 8,000 units. Th

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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