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Zay Corporation manufactures a product in two departments, Cutting and Assembly. During February, the Assembly department received 2,100 units from the Cutting department and 2,000 units were transferred out of the Assembly department to finished goods. At the end of the month, 500 units were still in process, they were 80% complete as to materials and 60% complete as to conversion cost. Cost data related to February operations follow: Costs charged to the dep't Beg. Invty Added this Period Costs from preceding Dep't P11,800 P63,200 Materials 4,000 21,200 Direct labor 1,200 17,660 Factory Overhead 2,400 35,320

Zay Corporation manufactures a product in two departments, Cutting and Assembly. During February, the Assembly department received 2,100 units from the Cutting department and 2,000 units were transferred out of the Assembly department to finished goods. At the end of the month, 500 units were still in process, they were 80% complete as to materials and 60% complete as to conversion cost. Cost data related to February operations follow: Costs charged to the dep't Beg. Invty Added this Period Costs from preceding Dep't P11,800 P63,200 Materials 4,000 21,200 Direct labor 1,200 17,660 Factory Overhead 2,400 35,320

FINANCIAL ACCOUNTING
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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Prepare the February cost of production report for the Assembly Dep’t.

Exercise 6-7. UNEVEN APPLICATION OF COST Zay Corporation manufactures a product in two departments, Cutting and Assembly. During February, the Assembly department received 2,100 units from the Cutting department and 2,000 units were transferred out of the Assembly department to finished goods. At the end of the month, 500 units were still in process, they were 80% complete as to materials and 60% complete as to conversion cost. Cost data related to February operations follow: Costs charged to the dep't Beg. Invty Added this Period Costs from preceding Dep't P11,800 P63,200 Materials 4,000 21,200 Direct labor 1,200 17,660 Factory Overhead 2,400 35,320
Transcribed Image Text:Exercise 6-7. UNEVEN APPLICATION OF COST Zay Corporation manufactures a product in two departments, Cutting and Assembly. During February, the Assembly department received 2,100 units from the Cutting department and 2,000 units were transferred out of the Assembly department to finished goods. At the end of the month, 500 units were still in process, they were 80% complete as to materials and 60% complete as to conversion cost. Cost data related to February operations follow: Costs charged to the dep't Beg. Invty Added this Period Costs from preceding Dep't P11,800 P63,200 Materials 4,000 21,200 Direct labor 1,200 17,660 Factory Overhead 2,400 35,320
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