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can i please get help with problem P3-7B Problems: Set B 3 Venuchi Cleaner Company Mixing and Blending Department Production Cost Report For the Month
can i please get help with problem P3-7B
Problems: Set B 3 Venuchi Cleaner Company Mixing and Blending Department Production Cost Report For the Month Ended March 31 Equivalent Units Ouantities Units to be accounted for Physical Units Conversion Costs Materials Work in process, March 1 Started into production 10,000 76,000 86,000 Total units Units accounted for Transferred out Work in process, March 31 66,000 (60% materials, 20% conversion cOSts Total units 20,000 86,000 Costs Total $254,000 Materials Costs $98,000 Unit costs Total cost Equivalent units Unit costs Work in process, March 1 Started into production Costs to be accounted for $8,700 245,300 Total costs Conversion Materials Total Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, March 31 Conversion costs Total costs Instructions (a) Prepare a schedule that shows how the cquivalent units were computed so that you (a) Materials $2.00 mplete the "Ouantities: Units accounted for" equivalent units section shown in (b) Transferred out $224 400 5 29,600 can com the production cost report above, and compute March unit costs (b) Complete the "Cost Reconciliation Schedule" part of the production cost report WIP above Detennine equivalent senits Holiday Company manufactures basketballs and soccer balls. For both products, and unit costs and ass materials are added at the beginning of the production process and conversion costs are costs for processes: prepare incurred uniformly. Holiday uses the FIFO method to compute equivalent units. Produc production cost report. tion and cost data for the month of August are shown below. LO 5), AP Percent Complete 60% Production Data-Soccer Balls Work in process units, August 1 Units started into production work in process units, August 31 Complete 80% Production Data-Basketballs Work in process units, August 1 Units started into production Work in process units, August 31 Units 500 2,000 600 Units 2,000 150 50% 70% Cost Data- -Soccer Balls Cost Data-Basketballs Work in process, August I Direct materials Direct labor Manufacturing overhead Work in process, August 1 Direct materials Direct labor $1,125 2,800 1,000 Manufacturing overheadStep by Step Solution
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