Question
MNO Chemical Ltd uses a process costing system. The following data is available for the month of July 2024 for Department A: Beginning work-in-process: 1,000
MNO Chemical Ltd uses a process costing system. The following data is available for the month of July 2024 for Department A:
Beginning work-in-process: 1,000 units (60% complete)
Units started: 5,000 units
Units completed: 4,500 units
Ending work-in-process: 1,500 units (40% complete)
Costs:
Beginning WIP: $3,000
Added during July: $27,000
Required: a. Calculate the equivalent units of production for July 2024. b. Compute the cost per equivalent unit. c. Determine the cost of units completed and transferred out. d. Calculate the cost of ending work-in-process.
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Horngrens Accounting
Authors: Tracie L. Miller nobles, Brenda L. Mattison, Ella Mae Matsumura
12th edition
9780134487151, 013448715X, 978-0134674681
