CPR with loss: Akroain corporation manutacture a product which passes through two department the production and the cost of department 1 đuring may 20xx ae as follow. 42.500 units were started in process.38000 units were completed and transferred to depariment number 2. Some 4000 units were in process at the end of month; these units were complete as to material but % converted. Remaining 500 units lost during processing. Costs incurred by the department were direct material 126,000 dollars, Direct Labor 80,000 dollars and FOH 40,000 dollars. You ae rėquired to make a cost of production report for the month of may 20xx,

CPR with loss: Akroain corporation manutacture a product which passes through two department the production and the cost of department 1 đuring may 20xx ae as follow. 42.500 units were started in process.38000 units were completed and transferred to depariment number 2. Some 4000 units were in process at the end of month; these units were complete as to material but % converted. Remaining 500 units lost during processing. Costs incurred by the department were direct material 126,000 dollars, Direct Labor 80,000 dollars and FOH 40,000 dollars. You ae rėquired to make a cost of production report for the month of may 20xx,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

None
Practice Problem 2 In process Y, 75 units of a commodity were transferred from process X at a cost of RO 1,310. The labour and overhead expenses amounting to RO 190 were incurred. 20 percent of the units entered are normally lost and sold @ RO 4 per unit. The output of the process was 70 units. Prepare process Y Account
Rosewell Ltd produces Netbell, a product requiring two processes. Normal loss in each process is 10%. The following information relates to Period 2: Direct materials (4,000 units) Added direct materials (1,200 units) Direct labour Production overheads Output transferred to Process 2 Output transferred to finished goods Scrapped units are sold for $4 each Process 1 S 32 400 18 640 24 000 3 800 units Process 2 S 6 480 20 000 33 000 4 250 units
Required: How much is the cost of goods manufactured in department B?
Question 02: CPR with loss: Akroain corporation manufacture a product which passes through two department the production and the cost of department 1 during may 20xx ae as follow. 42,500 units were started in process.38000 units were completed and transferred to department number 2. Some 4000 units were in process at the end of month; these units were complete as to material but ½ converted. Remaining 500 units lost during processing. Costs incurred by the department were direct material 126,000 dollars, Direct Labor 80,000 dollars and FOH 40,000 dollars. You ae required to make a cost of production report for the month of may 20xx.
CPR Abnormal Loss in second department:During the month of may 20xx department No.2 of Halton company received60,000 units at the rate of 14.50 dollars from department one. Then it transferredout 33000 completed units. In the department there was an abnormal loss of4000units when 85 percent converted. In Department 2 all the material are added at the beginning of the process. Direct Material added during the month totaled272,500 dollars and conversion cost is 216,000 dollars. Make a cost of productionreport for department 2. .Cost from the proceeding department is 775,000dollars with the per unit cost 15.50 dollars
Please help me
TOPIC: PROCESS COSTING-LOST UNITS
2. XYZ Co. manufactures a high-quality product which goes through two departments; mixing department and finishing department. Beg WIP Inv.: 8,000 units Raw Material $45,600 $49,300 $43,720 $81,200 D/L incurred in current period $206,700 $186,680 30,000 Direct Labor Manuf. Overh. D/M used in current period M/O applied Units completed and T/O End. WIP Inv.: 10,000, D/M 100%, Conv. 20%. a) Prepare the production report b) Prepare the journal entries for -release of D/M, -incurrance of D/L, -application of M/O, and - transferring units completed to mixing dept.
Problem 7. Hua Corp. manufactures hats. All material is placed in process at the beginning of the period in Department A and the process and the conversion costs are added evenly throughout the process. Upon completion the goods are immediately transferred to Department B. Department A -Month of April 20xx. Status: -Work in process 3/31/xx conversion Units completed at a cost of $300,000 20,000 ($250,000 material and $50,000 conversion) -Units started during April 50,000 -Units completed during April 30,000 -Work in process April 30th were 50% 40,000 Completed for conversion -Direct material cost added during April $450,000 -Conversion cost added during April $100,000 Required: Prepare the 5 step production cost report