Question
Because most of the parts for its irrigation systems are standard, Joba handles the majority of its manufacturing as a process cost system. There are
Because most of the parts for its irrigation systems are standard, Joba handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Package department which prepares items for sale in kits or individually.
The following information is available for the Molding department for January.
Work in process beginning : 22,000 units, Total costs in the beginning work in process $252,854
Costs in work in process inventory : Materials $168,020, Labor 67,564, Overhead 17,270
Units started into production in January 55,000
Units completed and transferred-out in January 48,000
Costs added to production : Materials $294,750, Labor 289,468, Overhead 58,348= Total costs added into production in January $642,566
Work in process ending:
Units in process 29,000
Stage of completion for materials 100%
Stage of completion for labor and overhead 10%
Instructions
Prepare a production cost report for Joba using the weighted-average method.
Please show all work, Thank you.
Step 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