Mixing Compute for the cost of goods manufactured. The Matis Manufacturing Company manufactures a single product in two producing departments. For the month of
Mixing Compute for the cost of goods manufactured. The Matis Manufacturing Company manufactures a single product in two producing departments. For the month of April, the cost and production data were as follows: Quantity Data: WIP, beg Stage of Completion Materials Conversion Cost Finishing 5,000 6,000 100% -0- 50% 60% Started in Process 10,000 Transferred to the next Dep't. 10,000 11,000 WIP, end 5,000 5,000 Stage of Completion Materials 80% -0- Conversion Cost 40% 50% Cost data: Cost in WIP, beg Costs from preceding Dep't P63,000 Materials P42,000 Direct labor 35,000 62,500 Factory Overhead Costs added this month Materials Direct labor Factory Overhead 20,500 45,000 90,000 52,000 140,000 37,500 90,000
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To compute the cost of goods manufacturedwe need to calculate the total costs incurred in both depar...See step-by-step solutions with expert insights and AI powered tools for academic success
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