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
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 3P: Kokomo Kayak Inc. uses the process cost system. The following data, taken from the organizations...
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Please do not give solution in image format thanku
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F531d22d6-41e3-4ab6-9b43-fd8dca83c239%2F5f8bc69e-c00d-4a71-8c6e-8e1a2cd44a84%2Fdzuog2_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
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