Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Dentex Plastics Corporation produces non-breakable container for cosmetics, using three departments; Mixing, Molding and Finishing. On July 1, the work in process inventory in
Dentex Plastics Corporation produces non-breakable container for cosmetics, using three departments; Mixing, Molding and Finishing. On July 1, the work in process inventory in the Molding Department was 1,000 units, 50% complete as to materials and conversion costs, while the July 31 work in process inventory consisted of 2,800 units, 75% complete as to materials and conversion costs. During, July, the Finishing Department received 20,000 units from the Molding Department. Relevant cost data are as follows: Work in process July 1 Rs. 6,000 Cost added during July Materials 48,744 Labour 59,112 Factory overhead 52,416 Required: Using FIFO costing method and weighted average method, prepare the cost of production report for the Molding Department for July.
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