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Process Costing - Assem ding inventory production for

Process Costing - Assem ding inventory production for

FINANCIAL ACCOUNTING
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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Process Costing - Assembly Department - AUGUST Information regarding inventory production for the Assembly Department for Aug is as follows Direct Materials Costs in August for 71,100 Units Direct Labor Costs incurred in August Factory Overhead costs incurred in August Work completed in August: 69,300 units Ending Work in Progress, August 31:8,900 units, 60% completed
Transcribed Image Text:Process Costing - Assembly Department - AUGUST Information regarding inventory production for the Assembly Department for Aug is as follows Direct Materials Costs in August for 71,100 Units Direct Labor Costs incurred in August Factory Overhead costs incurred in August Work completed in August: 69,300 units Ending Work in Progress, August 31:8,900 units, 60% completed
Process Costing - Assembly Department - JULY Information regarding inventory production for the Assembly Department for July is as follows: s 944,164 Direct Materials Costs in July for 54,200 Units Direct Labor Costs incurred in July Factory Overhead costs incurred in July 424,834 223,899 Work completed in July: 52,700 units Ending Work in Progress, July 31: 7,100 units, 90% completed Units of Equivalent Units Production of Production for Category Whole Units for Materials Conversion Costs Started in June: Completed in July 5,600 3,920 Started in July: Completed in July 47,100 47,100 47,100 Started in July: Completed in August 7,100 7,100 6,390 TOTAL 59,800 54,200 57,410 a) Materials cost per equivalent unit 17.42 b.) Conversion cost per equivalent unit o.) Cost per unit of finished goods started in June: completed in July d.) Total cost of all finished goods started in June: completed in July .)Cost per unit of finished goods started and completed in July f.) Total cost of all finished goods started and completed in July 11.30 28.68 160,608.00 28.72 $ 1,352,712.00 9)Cost per unit of the work in progress inventory on July 31 h) Total cost of the work in process inventory on July 31 28.72 $ 195,889.00 CHECK ANSWERS – JULY: 120 57,410 G24 S 28.68 G29 S 195,889.00
Transcribed Image Text:Process Costing - Assembly Department - JULY Information regarding inventory production for the Assembly Department for July is as follows: s 944,164 Direct Materials Costs in July for 54,200 Units Direct Labor Costs incurred in July Factory Overhead costs incurred in July 424,834 223,899 Work completed in July: 52,700 units Ending Work in Progress, July 31: 7,100 units, 90% completed Units of Equivalent Units Production of Production for Category Whole Units for Materials Conversion Costs Started in June: Completed in July 5,600 3,920 Started in July: Completed in July 47,100 47,100 47,100 Started in July: Completed in August 7,100 7,100 6,390 TOTAL 59,800 54,200 57,410 a) Materials cost per equivalent unit 17.42 b.) Conversion cost per equivalent unit o.) Cost per unit of finished goods started in June: completed in July d.) Total cost of all finished goods started in June: completed in July .)Cost per unit of finished goods started and completed in July f.) Total cost of all finished goods started and completed in July 11.30 28.68 160,608.00 28.72 $ 1,352,712.00 9)Cost per unit of the work in progress inventory on July 31 h) Total cost of the work in process inventory on July 31 28.72 $ 195,889.00 CHECK ANSWERS – JULY: 120 57,410 G24 S 28.68 G29 S 195,889.00
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