FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The Hoed Corp. manufactures hats. All material is placed in process as soon as the goods are started in Department A. and conversion costs are incurred evenly throughout the process. Upon completion of the product it is immediately transferred to Department B.
Department A-Month of April 20xx
Status
-Work in process 3/31/xx at 50% conversion 20,000 units completed at a cost of $300,000 ( $250,000
material cost and $50,000 conversion cost.)
-Units started during April 50,000 units
-Units completed during April 30,000 units
-Work in process April 30th were 40,000 units
50% converted for conversion
-Direct material added during April $450,000
-Conversion cost added during April $200,000
Required: ( 5 Step Production Cost Report )
- Calculate the total cost of the goods completed in Department A during April.
- Calculate the total cost of the ending work in process in Department A for April.
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