Question 01:During the month of January 2020,Direct material worth 300.000 dollars wereissued to produce 26,000 units of finished goods. Direct labor to process thesematerial totaled 110,000 dollar and FOH is 55.000 dollars. During the monthprocessing of 20,000 units were compieted and these units were fransferred to nextdepartment, whereas 1000 units were lost during processing. The loss is regardedas normal loss. All of these direct material has been issued for the units in processat the end of month but these uits were only 40 percent converted. You arerequired to make a A cost of production Report for the month based on the aboveinformation.

Cost of Production is the cost to manufacture the no of units that was sent in the manufacturing…

Answered: Question 01: During the month of…

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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a. Under Weighted Average Method, the EUP, what was the total unit cost?
CPR Abnormal Loss in second department:During the month of may 20xx department No.2 of Halton company received60,000 units at the rate of 14.50 dollars from department one. Then it transferredout 33000 completed units. In the department there was an abnormal loss of4000units when 85 percent converted. In Department 2 all the material are added at the beginning of the process. Direct Material added during the month totaled272,500 dollars and conversion cost is 216,000 dollars. Make a cost of productionreport for department 2. .Cost from the proceeding department is 775,000dollars with the per unit cost 15.50 dollars
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor…
(a) Given that 30% of the unexpected losses were because of pilferage, prepare the abnormal spoilage statement, clearly showing All Things Brass true loss associated with the Polishing Process.
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25.200 gallons In process, October 31 (1/4 complete) 11.700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor 7,290 Overhead 2,430 Under Weighted Average Method, how much was the cost of the Finished and Transferred out units?
Company XYZ has raw materials at the beginning of August of OMR400,000. During August, the company purchased additional raw materials of OMR30,000. During August also, the company used OMR300,000 raw materials; OMR150,000 directly on the production process and OMR150,000 related to maintenance of administrative cars. How much balance in the raw 0.8 ?materials by the end of August اخترأحد الخيارات a. None of the given answers b. OMR250,000 C. OMR130,000 O d. OMR430,000 e. OMR280,000 O Clear my choice
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor 7,290 Overhead 2,430 1.) Under FIFO method, what was the actual units of the Work in Process Beginning Inventory? 2.) Under FIFO method, what was the actual units of the Work in Process Inventory at the End? 3.) Under FIFO, how many units is the Equivalent Units Of Production (EUP) 4.) Under FIFO, how much is the unit cost?
Consider the following data. Department B of Ethel Manufacturing Corp, suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, 9.600 gallons October 1 (2/5 completed) 30,000 gallons Received from Department A 25.200 gallons Finished and transferred 11.700 gallons In process, October 31 (1/4 complete) Costs: In process beginning P5.760 Received from Department A 30,000 Current costs Materials 19.440 Labor 7:290 Overhead 2.430 Under FIFO method, what was the actual units of the Work in Process Beginning Inventory?

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