Required: Prepare the cost of production report for the two departments.
Exercise 6-7 EVEN APPLICATION – MULTIPLE DEPTS
The ICT Manufacturing Corp. has its product processed in Depatments M and P. The
production data for March are given below:
Department M Department P
Quantity data:
WIP, beg 5,000 8,000
Stage of Completion 1/5 3⁄4
Units placed in process 30,000
Units transferred out ? 30,000
WIP, end 7,000 ?
Stage of Completion 2/7 2/5
Cost data:
WIP, beg P750 P9,481.44
Materials 17,400 7,920
Direct labor 8,990 3,960
Factory overhead 3,480 2,640
Required: Prepare the cost of production report for the two departments.
Step by step
Solved in 2 steps with 2 images
