Erin Company's inventory at December 1, and the costs charged to Work in Process-Department B during December are as follows: 1,200 units, 40% completed From Department A, 26,000 units Direct labor Factory overhead $ 47,800 845,000 312,000 176,770 During December, all direct materials are transferred from Department A, the units in process at December 1 were completed, and of the 26,000 units entering the department, all were completed except 1,000 units which were 70% completed as to conversion costs. Inventories are costed by the first-in, first-out method. Required: Prepare a cost of production report for December. Round cost per equivalent unit to two decimal places and the other answers to the nearest dollar.

Erin Company's inventory at December 1, and the costs charged to Work in Process-Department B during December are as follows: 1,200 units, 40% completed From Department A, 26,000 units Direct labor Factory overhead $ 47,800 845,000 312,000 176,770 During December, all direct materials are transferred from Department A, the units in process at December 1 were completed, and of the 26,000 units entering the department, all were completed except 1,000 units which were 70% completed as to conversion costs. Inventories are costed by the first-in, first-out method. Required: Prepare a cost of production report for December. Round cost per equivalent unit to two decimal places and the other answers to the nearest dollar.

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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