DO IT! Karlene Industries produces plastic ice cube trays in two processes: heating and stamping. All materials are added at the beginning of the Heating Department process. Karlene uses the weighted-average method to compute equivalent units. On November 1, the Heating Department had in process 1,000 trays that were 70% complete. During November, it started into production 12,000 trays. On November 30, 2014, 2,000 trays that were 60% complete were in process. The following cost information for the Heating Department was also available. Work in process, November 1: Materials Costs incurred in November: $ 640 360 $3,000 2,300 4,050 Material Conversion costs Labor Overhead Cost of work in process, Nov. 1 $1,000 Instructions (a) Prepare a production cost report for the Heating Department for the month of November 2014, using the weighted-average method. (b) Journalize the transfer of costs to the Stamping Department.

DO IT! Karlene Industries produces plastic ice cube trays in two processes: heating and stamping. All materials are added at the beginning of the Heating Department process. Karlene uses the weighted-average method to compute equivalent units. On November 1, the Heating Department had in process 1,000 trays that were 70% complete. During November, it started into production 12,000 trays. On November 30, 2014, 2,000 trays that were 60% complete were in process. The following cost information for the Heating Department was also available. Work in process, November 1: Materials Costs incurred in November: $ 640 360 $3,000 2,300 4,050 Material Conversion costs Labor Overhead Cost of work in process, Nov. 1 $1,000 Instructions (a) Prepare a production cost report for the Heating Department for the month of November 2014, using the weighted-average method. (b) Journalize the transfer of costs to the Stamping Department.

Name: DO IT!Karlene Industries produces plastic ice cube trays in two proce
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Description: DO IT!Karlene Industries produces plastic ice cube trays in two processes: heating and stamping.All materials are added at the beginning of the Heating Department process. Karlene usesthe weighted-average method to compute equivalent units.On Novemb

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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