Requirements: 1.Assume loss are normal loss,Prepare the Production Report 2.Assume loss are abnormal loss,Prepare the Production Report
Depreciation Methods
The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.
Depreciation Accounting
In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.
Requirements:
1.Assume loss are normal loss,Prepare the Production Report
2.Assume loss are abnormal loss,Prepare the Production Report
![3:23 PM Sat Jul 10
* O 39%
Done
Classroom
Juniper Company manufactures a single product in two departments, Cutting and
Finishing. Units of product arc started in the Cutting Department and then transferred
to the Finishing Department, where they are completed. Units are inspected at the end
of the production process in the Finishing Goods Inventory
During Julv, 5,000 units were transferred from the Cutting Department to the
Finishing Department and 3,800 were transferred from the Finishing Department to
Finished Goods Inventory. At the end of July, the Finishing Department still had 800
units in process, 40% complete as to materials and 20% complete as to conversion
costs. Cost data related to July operations in the Finishing Department are:
Cost from preceding department
Materials
P 60,000
22,600
17,440
13,080
Labor
Overhead
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Requirements:
1.Assume loss are normal loss,Prepare the Production Report
2.Assume loss are abnormal loss,Prepare the Production Report](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbacf7a21-0b55-4694-9c44-5f3248195aa8%2Ff8a32f35-2941-45cb-9059-da31aa2d2725%2Fkbbv9bf_processed.png&w=3840&q=75)
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