Question
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 |
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2. Determine the cost of goods sold (indicate the number of units and unit costs). | |||
3. Determine the finished goods inventory, May 31, 2010. |
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Work in process - Mixing (May 1) | $ 60,000 |
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1/4 completed | 12000 | 0.25 | $ 5.00 |
Finished goods (May 1) | $ 24,000 |
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4000 |
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Charges to Work in Process - Mixing for May |
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Direct materials transferred from Baking |
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$ 72,000 | 12000 | $ 6.00 | |
Direct labor | $ 50,000 |
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Factory overhead | $ 42,500 |
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Completed units in May | 7000 |
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Units sold in May | 15000 |
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Work in process - Mixing |
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1/2 completed | 5000 | 0.5 |
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Finished goods (May 31) | 8000 |
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