Ozumos Gardening makes several different kinds of mulch. Its busy period is in the summer months. In
Question:
Ozumo’s Gardening makes several different kinds of mulch. Its busy period is in the summer months. In August, the controller suddenly quit due to a stress-related disorder. He took with him the standard costing results for RoseBark, Ozumo’s highest quality mulch. The controller had already completed the assignment of costs to finished goods and work in process, but Ozumo does not know standard costs or the completion levels of inventory. The following information is available:
Required
1. Calculate the completion percentages of beginning work in process with respect to the two inputs.
2. Calculate the completion percentages of ending work in process with respect to the two inputs.
3. What are the standard costs per unit for the two inputs?
4. What is the total cost of work-in-process inventory as of August 1, 2012?
Step by Step Answer:
Cost Accounting A Managerial Emphasis
ISBN: 978-0132109178
14th Edition
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav