Please do not give solution in image format thanku In March, Pharoah Manufacturing had the following unit production costs: materials $10 and conversion costs $7. On March 1, it hadzero work in process inventory. During March, Pharoah completed and transferred out 24,200 units. As at March 31, 2,470 units thatwere 60% complete as to conversion costs and 100 % complete as to materials were in ending work in process inventory. Prepare a cost reconciliation schedule, including the costs of units completed and transferred outand the costs of units in work inprocess inventory for March.rchinitsunted forCOSTSUnit costsCosts in MarchEquivalent unitsUnit costsCosts to be accounted forIn process, March 1Costs in MarchCosts accounted forTotal costs to be accounted for:Completed and transferred outCosts accounted forCompleted and transferred outIn process, March 1Started and completedIn process, March 31Direct MaterialsConversion costsPHAROAHMANUFACTURING(Partial) Production Cost ReportFor the Month Ended March 31Total costs accounted for:Direct MaterialsDirect MaterialsConversionCosts$ConversionCostsTotal$$Total

WEIGHTED AVERAGE METHOD :— Under this method, equivalent units is calculated by adding equivalent…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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