Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

equired information Skip to question [The following information applies to the questions displayed below.] Sanyo Corporation manufactures a popular model of business calculators in a

equired information

Skip to question

[The following information applies to the questions displayed below.]

Sanyo Corporation manufactures a popular model of business calculators in a suburb of Seoul, South Korea. The production process goes through two departments: assembly and testing. The following information (in thousands of South Korean currency, the won) pertains to the testing department for the month of July.

Work-in-Process Inventory, July 1 6,000 units
Transferred-in costs 60,450 won (100% complete)
Costs added in July
Direct materials 24,155 won (100% complete)
Conversion 25,040 won (80% complete)

During the month of July, 15,000 units were transferred in from the assembly department at the cost of 142,200 won, and the testing department added costs of 202,400 won, as follows:

Direct materials 92,800 won
Conversion 109,600 won

During the month, 18,000 units were completed and transferred to the warehouse. At July 31, the completion percentage of Work-in-Process was as follows:

Direct materials 90%
Conversion 60%

Required

1. Prepare the production cost report of the testing department for the month of July using weighted-average process costing. (Round "Cost per EU" answers to 2 decimal places.)

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_2

Step: 3

blur-text-image_3

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

Financial Accounting

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

5th Canadian edition

9781259105692, 978-1259103285

More Books

Students also viewed these Accounting questions

Question

Each of the new members are to be introduced seperately.

Answered: 1 week ago