Question 4. A company's Department 3 costs for Julywere: Cost from Department 2 $16320 Cost added in Department 3: Materials 43,415 Labor 56,100 Factory overhead (FOH) 58,575 The quantity schedule shows 12,000 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of July were 50% complete as to materials cost and 25% complete as to conversion cost. Required: Prepare Cost of production report.
Question 4. A company's Department 3 costs for Julywere: Cost from Department 2 $16320 Cost added in Department 3: Materials 43,415 Labor 56,100 Factory overhead (FOH) 58,575 The quantity schedule shows 12,000 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of July were 50% complete as to materials cost and 25% complete as to conversion cost. Required: Prepare Cost of production report.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 4. A company's Department 3 costs for Julywere:
|
Cost from Department 2 |
$16320 |
|
Cost added in Department 3: |
|
|
Materials |
43,415 |
|
Labor |
56,100 |
|
Factory |
58,575 |
The quantity schedule shows 12,000 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of July were 50% complete as to materials cost and 25% complete as to conversion cost.
Required: Prepare Cost of production report.
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