E3.6 (LO 3, 4), AP The Cutting Department of Cassel Company has the following production and cost data for July.ProductionCosts1. Completed and transferred out 12,000 units.2. 3,000 units in ending working in process are 60%complete as to conversion costs and100% complete as to materials at July 31.Beginning work in processDirect materials$-0-a. Determine the equivalent units of production for (1) materials and (2) conversion costs.b. Compute unit costs and prepare a cost reconciliation schedule.Prepare a production cost report.45,000Direct laborManufacturing overheadMaterials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process.Instructions16,20018,300

E3.6 (LO 3, 4), AP The Cutting Department of Cassel Company has the following production and cost data for July. Production Costs 1. Completed and transferred out 12,000 units. 2. 3,000 units in ending working in process are 60% complete as to conversion costs and 100% complete as to materials at July 31. Beginning work in process Direct materials $-0- 45,000 Direct labor Manufacturing overhead Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. Instructions a. Determine the equivalent units of production for (1) materials and (2) conversion costs. b. Compute unit costs and prepare a cost reconciliation schedule. Prepare a production cost report. 16,200 18,300

E3.6 (LO 3, 4), AP The Cutting Department of Cassel Company has the following production and cost data for July. Production Costs 1. Completed and transferred out 12,000 units. 2. 3,000 units in ending working in process are 60% complete as to conversion costs and 100% complete as to materials at July 31. Beginning work in process Direct materials $-0- 45,000 Direct labor Manufacturing overhead Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. Instructions a. Determine the equivalent units of production for (1) materials and (2) conversion costs. b. Compute unit costs and prepare a cost reconciliation schedule. Prepare a production cost report. 16,200 18,300

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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