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Assume the following data of CCDC Corporation for the month of November, 2020. Department 1 Department 2 Units: Work in process inventory, beginning: Materials 100% complete, conversion cost 40% complete Materials 100% complete, conversion cost 20% complete 4,000 6,000 Started in process during the period Units completed and transferred to the next department Units completed and transferred to finished goods inventory Work in process inventory, end: 40,000 34,000 38,000 Materials 100% complete, conversion cost 60% complete Materials 100% complete, conversion cost 30% complete 10,000 2,000 Costs: 40,000 Costs of beginning work in process inventory transferred in Costs of beginning work in process inventory from this dept. 14,000 15,840 29,840 Materials Conversion costs Total 12,000 13,520 25,520 Cost added during the period: Materials Conversion costs 140,000 140,160 280,160 80,000 110,000 190,000 Total Requirement: Prepare cost of production report using FIFO and Average Method (Dept. I) & (Department II)

Assume the following data of CCDC Corporation for the month of November, 2020. Department 1 Department 2 Units: Work in process inventory, beginning: Materials 100% complete, conversion cost 40% complete Materials 100% complete, conversion cost 20% complete 4,000 6,000 Started in process during the period Units completed and transferred to the next department Units completed and transferred to finished goods inventory Work in process inventory, end: 40,000 34,000 38,000 Materials 100% complete, conversion cost 60% complete Materials 100% complete, conversion cost 30% complete 10,000 2,000 Costs: 40,000 Costs of beginning work in process inventory transferred in Costs of beginning work in process inventory from this dept. 14,000 15,840 29,840 Materials Conversion costs Total 12,000 13,520 25,520 Cost added during the period: Materials Conversion costs 140,000 140,160 280,160 80,000 110,000 190,000 Total Requirement: Prepare cost of production report using FIFO and Average Method (Dept. I) & (Department II)

FINANCIAL ACCOUNTING
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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Assume the following data of CCDC Corporation for the month of November, 2020. Department 1 Department 2 Units: Work in process inventory, beginning: Materials 100% complete, conversion cost 40% complete Materials 100% complete, conversion cost 20% complete 4,000 6,000 Started in process during the period Units completed and transferred to the next department Units completed and transferred to finished goods inventory Work in process inventory, end: 40,000 34,000 38,000 Materials 100% complete, conversion cost 60% complete Materials 100% complete, conversion cost 30% complete 10,000 2,000 Costs: 40,000 Costs of beginning work in process inventory transferred in Costs of beginning work in process inventory from this dept. 14,000 15,840 29,840 Materials Conversion costs Total 12,000 13,520 25,520 Cost added during the period: Materials Conversion costs 140,000 140,160 280,160 80,000 110,000 190,000 Total Requirement: Prepare cost of production report using FIFO and Average Method (Dept. I) & (Department II)
Transcribed Image Text:Assume the following data of CCDC Corporation for the month of November, 2020. Department 1 Department 2 Units: Work in process inventory, beginning: Materials 100% complete, conversion cost 40% complete Materials 100% complete, conversion cost 20% complete 4,000 6,000 Started in process during the period Units completed and transferred to the next department Units completed and transferred to finished goods inventory Work in process inventory, end: 40,000 34,000 38,000 Materials 100% complete, conversion cost 60% complete Materials 100% complete, conversion cost 30% complete 10,000 2,000 Costs: 40,000 Costs of beginning work in process inventory transferred in Costs of beginning work in process inventory from this dept. 14,000 15,840 29,840 Materials Conversion costs Total 12,000 13,520 25,520 Cost added during the period: Materials Conversion costs 140,000 140,160 280,160 80,000 110,000 190,000 Total Requirement: Prepare cost of production report using FIFO and Average Method (Dept. I) & (Department II)
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