Question
Keith Industries produces plastic ice cube trays in two processes: heating and stamping. All material are added at the beginning of the Heating Department process.
Keith Industries produces plastic ice cube trays in two processes: heating and stamping. All material are added at the beginning of the Heating Department process. Keith uses the weighted average method to compute the equivalent units. On November 1, the Heating Department had in process 1,000 trays that were 70% complete. During November, it started into production 12,000 trays. On November 30, 2019, 2,000 trays were 60% complete were in process. The following cost information for the Heating Department was also available. Work in Process, November 1: Materials RM640 Conversion costs RM360
Costs incurred in November: Material RM3,000 Labor RM 2,300. Overhead RM 4,050
Instructions
1) Prepare production cost report for the Heating department for the month of November 2019.
2) Journalise the transfer of costs to the stamping department
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