Jordana Woolens is a manufacturer of wool cloth. The information for March is as follows: Beginning work-in-process
Question:
Jordana Woolens is a manufacturer of wool cloth. The information for March is as follows:
Beginning work-in-process .......... 10,000 units
Units started ............... 20,000 units
Units completed ............. 25,000 units
Beginning work-in-process direct materials ..... $6,000
Beginning work-in-process conversion ....... $2,600
Direct materials added during month ....... $30,000
Direct manufacturing labor during month ...... $12,000
Factory overhead ............... $5,000
Beginning work-in-process was half converted as to labor and overhead. Direct materials are added at the beginning of the process. All conversion costs are incurred evenly throughout the process.
Ending work-in-process was 60 percent complete.
Required:
Prepare a production cost worksheet using the weighted-average method. Include any necessary supporting schedules
Step by Step Answer:
Managerial Accounting Decision Making and Motivating Performance
ISBN: 978-0137024872
1st edition
Authors: Srikant M. Datar, Madhav V. Rajan