Dulang Sdn. Bhd. is a manufacturer that uses the First in First out (FIFO) process costing method to account for costs of production. It produces a baking tray in the two processing department, Molding and Finishing. The following information was obtained for the Molding Department for the month of June 2022. Work in process on 1 June 2022 had 10,000 units made up of the following information: Cost Data : Amount (RM) Required: During June 2022, 50,000 units were started in Molding Department and incurred the following costs; a) Direct materials Direct labor Manufacturing overhead i. Cost Data : ii. Direct materials Direct labor Manufacturing overhead At the end of June 2022, 20,000 units were still in process and degree of completion of work in process inventory was direct material; 90 percent, direct labor and manufacturing overhead; 70 percent. 8,000 2,800 2,840 Degree of Completion 100% 60% 60% Prepare the production cost report for the month ended 30 June 2022. The report should show; Equivalent units of production. Cost per equivalent unit. Amount (RM) 38,400 14,000 20,860
Dulang Sdn. Bhd. is a manufacturer that uses the First in First out (FIFO) process costing method to account for costs of production. It produces a baking tray in the two processing department, Molding and Finishing. The following information was obtained for the Molding Department for the month of June 2022. Work in process on 1 June 2022 had 10,000 units made up of the following information: Cost Data : Amount (RM) Required: During June 2022, 50,000 units were started in Molding Department and incurred the following costs; a) Direct materials Direct labor Manufacturing overhead i. Cost Data : ii. Direct materials Direct labor Manufacturing overhead At the end of June 2022, 20,000 units were still in process and degree of completion of work in process inventory was direct material; 90 percent, direct labor and manufacturing overhead; 70 percent. 8,000 2,800 2,840 Degree of Completion 100% 60% 60% Prepare the production cost report for the month ended 30 June 2022. The report should show; Equivalent units of production. Cost per equivalent unit. Amount (RM) 38,400 14,000 20,860
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Dulang Sdn. Bhd. is a manufacturer that uses the First in First out (FIFO) process costing
method to account for costs of production. It produces a baking tray in the two processing
department, Molding and Finishing. The following information was obtained for the Molding
Department for the month of June 2022.
Work in process on 1 June 2022 had 10,000 units made up of the following information:
Cost Data :
Amount (RM)
8,000
2,800
2,840
During June 2022, 50,000 units were started in Molding Department and incurred the
following costs;
Required:
a)
Direct materials
Direct labor
Manufacturing overhead
i.
At the end of June 2022, 20,000 units were still in process and degree of completion of work
in process inventory was direct material; 90 percent, direct labor and manufacturing
overhead; 70 percent.
ii.
iii.
Cost Data :
iv.
Degree of
Completion
100%
60%
60%
Direct materials
Direct labor
Manufacturing overhead
Prepare the production cost report for the month ended 30 June 2022. The report
should show;
Amount (RM)
38,400
14,000
20,860
Equivalent units of production.
Cost per equivalent unit.
Cost of unit transferred to the Finishing Department.
Cost of the work-in-process inventory on 30 June 2022.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F33051d9c-463b-4da9-854b-f5dc9463b3c9%2F9da89b40-a349-46a0-b365-e63d2f44816a%2Fa5sg9ne_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Dulang Sdn. Bhd. is a manufacturer that uses the First in First out (FIFO) process costing
method to account for costs of production. It produces a baking tray in the two processing
department, Molding and Finishing. The following information was obtained for the Molding
Department for the month of June 2022.
Work in process on 1 June 2022 had 10,000 units made up of the following information:
Cost Data :
Amount (RM)
8,000
2,800
2,840
During June 2022, 50,000 units were started in Molding Department and incurred the
following costs;
Required:
a)
Direct materials
Direct labor
Manufacturing overhead
i.
At the end of June 2022, 20,000 units were still in process and degree of completion of work
in process inventory was direct material; 90 percent, direct labor and manufacturing
overhead; 70 percent.
ii.
iii.
Cost Data :
iv.
Degree of
Completion
100%
60%
60%
Direct materials
Direct labor
Manufacturing overhead
Prepare the production cost report for the month ended 30 June 2022. The report
should show;
Amount (RM)
38,400
14,000
20,860
Equivalent units of production.
Cost per equivalent unit.
Cost of unit transferred to the Finishing Department.
Cost of the work-in-process inventory on 30 June 2022.
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