Homework Help is Here – Start Your Trial Now!
Business
Accounting
In March, Pharoah Manufacturing had the following unit production costs: materials $10 and conversion costs $7. On March 1, it had zero work in process inventory. During March, Pharoah completed and transferred out 24,200 units. As at March 31, 2,470 units that were 60% complete as to conversion costs and 100 % complete as to materials were in ending work in process inventory.

In March, Pharoah Manufacturing had the following unit production costs: materials $10 and conversion costs $7. On March 1, it had zero work in process inventory. During March, Pharoah completed and transferred out 24,200 units. As at March 31, 2,470 units that were 60% complete as to conversion costs and 100 % complete as to materials were in ending work in process inventory.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format thanku 

In March, Pharoah Manufacturing had the following unit production costs: materials $10 and conversion costs $7. On March 1, it had zero work in process inventory. During March, Pharoah completed and transferred out 24,200 units. As at March 31, 2,470 units that were 60% complete as to conversion costs and 100 % complete as to materials were in ending work in process inventory.
Transcribed Image Text:In March, Pharoah Manufacturing had the following unit production costs: materials $10 and conversion costs $7. On March 1, it had zero work in process inventory. During March, Pharoah completed and transferred out 24,200 units. As at March 31, 2,470 units that were 60% complete as to conversion costs and 100 % complete as to materials were in ending work in process inventory.
Prepare a cost reconciliation schedule, including the costs of units completed and transferred outand the costs of units in work in process inventory for March. rch inits unted for COSTS Unit costs Costs in March Equivalent units Unit costs Costs to be accounted for In process, March 1 Costs in March Costs accounted for Total costs to be accounted for: Completed and transferred out Costs accounted for Completed and transferred out In process, March 1 Started and completed In process, March 31 Direct Materials Conversion costs PHAROAHMANUFACTURING (Partial) Production Cost Report For the Month Ended March 31 Total costs accounted for: Direct Materials Direct Materials Conversion Costs $ Conversion Costs Total $ $ Total
Transcribed Image Text:Prepare a cost reconciliation schedule, including the costs of units completed and transferred outand the costs of units in work in process inventory for March. rch inits unted for COSTS Unit costs Costs in March Equivalent units Unit costs Costs to be accounted for In process, March 1 Costs in March Costs accounted for Total costs to be accounted for: Completed and transferred out Costs accounted for Completed and transferred out In process, March 1 Started and completed In process, March 31 Direct Materials Conversion costs PHAROAHMANUFACTURING (Partial) Production Cost Report For the Month Ended March 31 Total costs accounted for: Direct Materials Direct Materials Conversion Costs $ Conversion Costs Total $ $ Total
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS