Kota Company furnishes you with the following production data for the month of March 2022: The...
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Kota Company furnishes you with the following production data for the month of March 2022: The application of materials for department L are as follows: 60% at the start of the process; 20% when the process reaches 2/3 completion; 20% when the process is 3/4 completed. Department M introduces 40% of the material requirements when the process is 1/3 completed; 40% when the process is at midpoint and the balance at the point of completion. Both departments apply conversion costs uniformly. A. Determine the equivalent production for labor and overhead in Department L B. The equivalent production for materials in Department L C. The total unit cost in Department L (round off to two decimal places) D. The total unit cost in Department M (round off to two decimal places) E. The total cost of transfer to Department M F. The total costs to be accounted for the month in Department M Kota Company furnishes you with the following production data for the month of March 2022: The application of materials for department L are as follows: 60% at the start of the process; 20% when the process reaches 2/3 completion; 20% when the process is 3/4 completed. Department M introduces 40% of the material requirements when the process is 1/3 completed; 40% when the process is at midpoint and the balance at the point of completion. Both departments apply conversion costs uniformly. A. Determine the equivalent production for labor and overhead in Department L B. The equivalent production for materials in Department L C. The total unit cost in Department L (round off to two decimal places) D. The total unit cost in Department M (round off to two decimal places) E. The total cost of transfer to Department M F. The total costs to be accounted for the month in Department M
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To solve this problem well calculate various production and cost figures for Departments L and M based on the given production data and assumptions Le... View the full answer
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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