Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Beginning work-in-progress inventory on June 1 had 250,000 units made up of the following: Degree of Completion Prior department costs transferred in from the Forming

image text in transcribed
Beginning work-in-progress inventory on June 1 had 250,000 units made up of the following: Degree of Completion Prior department costs transferred in from the Forming Department Costs added by the Steril- ization Department: Direct materials Direct labor Manufacturing overhead $387,600 100% 317,200 100% 120,050 | 40% 67.100 | 30% $504,350 $891,950 Work in process, June 1 During June, 580,000 units were transferred in from the Forming Department at a cost of $1,870,000. The Assembling Department added the following costs: $974,800 318,600 Direct materials Direct labor Manufacturing overhead Total costs added $1,495,400 Assembling finished 480,000 units and transferred them to the Sterilization Department. At June 30, the number of units in ending work-in-progress inventory was 350,000. The degree of completion of work-in-process inventory at June 30 was as indicated below: Direct materials Direct labor Manufacturing overhead 80% 65 30 A. Prepare a correctly formatted (including heading) production cost report (see Exhibit 8.11 as a example report) using the weighted-average method

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

The Audit Process Principles Practice And Cases

Authors: Stuart Manson, Iain Gray, Iain G. Sheffield, I.H. Gray, I. Etal Gray

2nd Edition

1861520107, 9781861520104

More Books

Students also viewed these Accounting questions