Cost of Production Report: No Beginning InventoriesOregon Paper Company produces newsprint paper through a special recycling process using scrap paperproducts. Production and cost data for October 2012, the first month of operations for the company'snew Portland plant, follow:Units of product started in process during OctoberUnits completed and transferred to finished goods.Machine hours operated...Direct materials costs incurred.Direct labor costs incurred.CARequiredPrepare a cost of production report for Oregon Paper Company for October.mentorice (105)90,000 tons75,000 tons10,000Raw materials are added at the beginning of the process for each unit of product produced, and laborand manufacturing overhead are added evenly throughout the manufacturing process. Manufacturingoverhead is applied to Work-in-Process at the rate of $24 per machine hour. Units in process at the endof the period were 65 percent converted.$486,000$190,530

Equivalent units means where the some goods remain incomplete at the end of process and we need to…

Cost of Production Report: No Beginning Inventories Oregon Paper Company produces newsprint paper through a special recycling process using scrap paper products. Production and cost data for October 2012, the first month of operations for the company's new Portland plant, follow: Units of product started in process during October Units completed and transferred to finished goods. Machine hours operated Direct materials costs incurred. Direct labor costs incurred. 90,000 tons 75,000 tons 10,000 Required Prepare a cost of production report for Oregon Paper Company for October. $486,000 $190,530 Raw materials are added at the beginning of the process for each unit of product produced, and labor and manufacturing overhead are added evenly throughout the manufacturing process. Manufacturing overhead is applied to Work-in-Process at the rate of $24 per machine hour. Units in process at the end of the period were 65 percent converted.

Cost of Production Report: No Beginning Inventories Oregon Paper Company produces newsprint paper through a special recycling process using scrap paper products. Production and cost data for October 2012, the first month of operations for the company's new Portland plant, follow: Units of product started in process during October Units completed and transferred to finished goods. Machine hours operated Direct materials costs incurred. Direct labor costs incurred. 90,000 tons 75,000 tons 10,000 Required Prepare a cost of production report for Oregon Paper Company for October. $486,000 $190,530 Raw materials are added at the beginning of the process for each unit of product produced, and labor and manufacturing overhead are added evenly throughout the manufacturing process. Manufacturing overhead is applied to Work-in-Process at the rate of $24 per machine hour. Units in process at the end of the period were 65 percent converted.

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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