question from book managerial accounting page 205: Q mike jones director of accounting at acme brands has calculated that there 6250 equivalent units of production for materials inthe mixing department at the end of thecurrent month assuming begining work in process inventory cost for material were $7250 and $10750 of additional material cost were added inthe period calculate the cost per equivalent units for materials for the mixing department using weighted average method

question from book managerial accounting page 205: Q mike jones director of accounting at acme brands has calculated that there 6250 equivalent units of production for materials inthe mixing department at the end of thecurrent month assuming begining work in process inventory cost for material were $7250 and $10750 of additional material cost were added inthe period calculate the cost per equivalent units for materials for the mixing department using weighted average method

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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Question Content Area Laramie Technologies has the following data: Work in process inventory, beginning $45,000 Work in process inventory, ending 32,000 Direct labor costs 56,000 Cost of materials used 50,000 Factory overhead 28,000 Determine the cost of goods manufactured.$fill in the blank 1
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CASE: The following data for the month of September were taken from the cost records of Department 1 of Pro-life Products which uses process costing system: Opening inventory of work in process: Units: 500 (with all materials added and 50% of labor and overhead) Cost: ■ Materials.. ■ Labor..... ■ Factory Overhead. ■ Materials.. ■ Labor........ ■ Factory Overhead. ..P14,900 Completed and transferred: 4,800 units Ending Inventory of work-in-process: Units: 700 (with all materials, and 60% of labor and overhead) REQUIREMENT: Upload a document containing your answers for the requirements below. Prepare a complete cost of production report using weighted average cost method containing the following: A. Accounting for the physical flow of units B. Equivalent units of production (EUP) C. Costs, identifying the cost per equivalent unit D. Cost Assignment, showing total cost to account and cost accounted for. ..P2,400 .P1,500 .P760 .P25,100 P19,380 Put into production Units: 5,000 Cost: