Nader Paints makes an environmentally sound paint that goes through 3 process. The following data is available for Process 1 for the month of April: Beginning WIP inventory, April Direct materials Conversion costs Units % Complete Costs 11,000 75% $3,200 70% $1,450 Units started in April 6,000 Costs incurred in April: Direct materials Conversion costs Ending WIP inventory 3,000 Direct materials 80% Conversion costs 60% Spoilage 200 Direct materials Conversion costs 70% 35% Required: $16,000 $15,800 a. Prepare a production cost report for Process 1 using weighted-average costing. b. What journal entry would be made after preparing the production cost report for process 1?
Nader Paints makes an environmentally sound paint that goes through 3 process. The following data is available for Process 1 for the month of April: Beginning WIP inventory, April Direct materials Conversion costs Units % Complete Costs 11,000 75% $3,200 70% $1,450 Units started in April 6,000 Costs incurred in April: Direct materials Conversion costs Ending WIP inventory 3,000 Direct materials 80% Conversion costs 60% Spoilage 200 Direct materials Conversion costs 70% 35% Required: $16,000 $15,800 a. Prepare a production cost report for Process 1 using weighted-average costing. b. What journal entry would be made after preparing the production cost report for process 1?
Chapter5: Process Costing
Section: Chapter Questions
Problem 5PB: Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units...
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