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MANAGERIAL ACCOUNTING PROCESS COST PROBLEMS Problem 1 Shown below are the unit information and a summary of the costs charged to a production department of

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MANAGERIAL ACCOUNTING PROCESS COST PROBLEMS Problem 1 Shown below are the unit information and a summary of the costs charged to a production department of Casa Grande Appliances, Inc. for the month of July. Casa Grande Appliances is a manufacturer of toasters. 2,000 11,000 Summary of Units Beginning Work in Process. Units placed in production during July.. Units in process at July 31 (75% complete as to materials and 80% complete as to conversion cost). Units completed and transferred to Finished Goods warehouse during July..... Summary of Costs 3,000 10,000 $ 20,200 Beginning Work in Process: (direct materials $9,600; conversion costs $10,600) Manufacturing costs incurred in July: Direct Materials Conversion costs.. Total costs to account for 137,400 156,800 $314,400 Instructions: a. Prepare a cost of production report for July Prepare journal entries for (1) manufacturing costs charged to the department in July, and (2) transfer of completed units to the Finished Goods warehouse. b

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