Exercise 10: Cost of Production Report - Uneven Application of Costs Manghud Manufacturing Corp. adds all the materials at the start of the procese The production data for October, 19C are as follows: Quantity data: In process, October 1 Placed in process..... In process, October 31............ Cost data: In process, October 1 Factory costs, October: Materials. Labor Factory overhead rate: 66 2/3% of labor cost Required: Cost of production report 12,000 units, 1/3 done 40,000 units 5,000 units, 1/4 done P28,470 80,000 26,550

Exercise 10: Cost of Production Report - Uneven Application of Costs Manghud Manufacturing Corp. adds all the materials at the start of the procese The production data for October, 19C are as follows: Quantity data: In process, October 1 Placed in process..... In process, October 31............ Cost data: In process, October 1 Factory costs, October: Materials. Labor Factory overhead rate: 66 2/3% of labor cost Required: Cost of production report 12,000 units, 1/3 done 40,000 units 5,000 units, 1/4 done P28,470 80,000 26,550

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

A-3
Problem 2 Jeffery Technologies used the weighted-average method in it process costing system. Data for the Assembly Department for October appears below: Work in Process, October 1 Costs added during October Equivalent Units of Production Required: Materials $25,000 $235,000 40,000 Conversion Costs $40,000 $260,000 25,000 1. Compute the cost per equivalent unit of production for materials and conversion costs. Show calculations. 2. Compute the total cost per equivalent whole unit.
Please do not give solution in image format thanku
21:29 A × bartleby.com bartleby SEARCH Work in process, 1 May Units started during May Units completed and transferred out during May Work in process, 31 May Total units accounted for Work in process, 1 May Costs incurred during May Total costs to account for ASK Production report, May Business » Accounting » Q&A Library » Rigby Ltd ac... Rigby Ltd accumulates costs for its single product using process costing. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. The following is a partially completed production report for May. Physical units ||| 25,000 30,000 55,000 35,000 20,000 55,000 Percentage of completion with respect to conversion 40% 80% Q4. TS Direct material $143,000 $165,000 $308,000 CHAT VX MATH ļ Equivalent units Direct materials 35,000 20,000 Required: a) Complete the following process costing steps using the weighted average method: i Calculation of equivalent units. ii Calculation of unit…
PROBLEM 8 The following data for the month of September were taken form the cost records of Department 1 of Pro-Life products which uses process costing system: Opening inventory of work in process: Units – 500 (with all materials added and 50% of labor and overhead) Cost - Materials 2, 400 Labor 1, 500 Factory overhead 760 Put into production: Units – 5, 000 Costs - Materials 25, 100 Labor 19, 380 Factory overhead 14, 900 Completed and transferred – 4, 800 units Ending inventory of work in process: Units – 700 (with all materials, and 60% of labor and overhead) 10. The cost per equivalent unit (rounded to nearest centavo) under FIFO: 11. The cost per equivalent unit (rounded to nearest centavo) under weighted average:
Multiple Choice 21,200. 22,200. 25,500. 26,500.
Sagar
Please do not give solution in image format thanku
Please do not give solution in image format thanku
Question 5 Part 2. Please answer in same format as question