Answered step by step
Verified Expert Solution
Question
1 Approved Answer
answer the question in english,show the calculate and formula QUESTION 5 ICC Paint Factory produces paint through two production departments: Processing and Canning. The relevant
answer the question in english,show the calculate and formula
QUESTION 5 ICC Paint Factory produces paint through two production departments: Processing and Canning. The relevant data of both departments are presented below: Processing Department Canning Department Beginning inventory 1,200 units (material: 100% 1,700 units (material: 100% completed, conversion cost: 40% completed; conversion cost: completed) 70% completed) Cost of beginning inventory Direct materials RM 2,525 RM 4,500 Conversion costs RM 2,760 RM 4,500 Cost transferred in from the RM 14,200 previous department Units started in production of 7,700 units ? current month Ending inventory 700 units (materials:100% 300 units (materials: 100% completed; conversion costs: completed; conversion costs: 80% completed) 50% completed) Current costs: Direct materials RM 17,300 RM 20,100 Conversion costs RM 44,070 RM 34,900 REQUIRED: Prepare a production cost report using the weighted average method for the: a) Processing Department b) Canning DepartmentStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started