Using the data in BE21.10, prepare the cost section of the production cost report for Pix NV.
Question:
Using the data in BE21.10, prepare the cost section of the production cost report for Pix NV.
Data from BE21.10:
Pix NV has the following production data for March: no beginning work in process, units started and completed 30,000, and ending work in process 5,000 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is €6 and unit conversion cost is €10, determine the costs to be assigned to the units transferred out and the units in ending work in process. The total costs to be assigned are €530,000.
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Equivalent Units Materials Conversion Costs Units accounted for Completed and transferred out ...View the full answer
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Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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