Part 3 The following information is available for Hocking Company for March 20X8. All materials are added at the start of production. Cost Beginning WIP Started Normal spoilage Abnormal spoilage Ending WIP Transferred out 8,000 units (80% complete) 35,000 units 6,000 units 2,500 units 15,000 units (55% complete) 19,500 units Required: Prepare a cost of production report for March using FIFO, DM $14,000 50,000 CC $45,000 175,000

Part 3 The following information is available for Hocking Company for March 20X8. All materials are added at the start of production. Cost Beginning WIP Started Normal spoilage Abnormal spoilage Ending WIP Transferred out 8,000 units (80% complete) 35,000 units 6,000 units 2,500 units 15,000 units (55% complete) 19,500 units Required: Prepare a cost of production report for March using FIFO, DM $14,000 50,000 CC $45,000 175,000

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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