Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.Prepare a cost of production report for the Mixing Department 2. Determine the cost of goods sold (indicate the number of units and unit costs).

1.Prepare a cost of production report for the Mixing Department

2. Determine the cost of goods sold (indicate the number of units and unit costs).

3. Determine the finished goods inventory, May 31, 2010.

Work in process - Mixing (May 1)

$ 60,000

1/4 completed

12000

0.25

$ 5.00

Finished goods (May 1)

$ 24,000

4000

Charges to Work in Process - Mixing for May

Direct materials transferred from Baking

$ 72,000

12000

$ 6.00

Direct labor

$ 50,000

Factory overhead

$ 42,500

Completed units in May

7000

Units sold in May

15000

Work in process - Mixing

1/2 completed

5000

0.5

Finished goods (May 31)

8000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

For Wahlen/jones/pagachs Intermediate Accounting Reporting And Analysis, , 2 Terms

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

2nd Edition

1305405676, 9781305405677

More Books

Students also viewed these Accounting questions