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Need help with this problem using the process cost accounting method Please Calculate Carefully : Question Process Cost Accounting Work in process - Mixing (May
Need help with this problem using the process cost accounting method Please Calculate Carefully :
Question Process Cost Accounting Work in process - Mixing (May 1) 1/4 completed Finished goods (May 1) 6.00 0.25 $ 72,000 12000 $ $ 40,000 5000 $ 8.00 Charges to Work in Process - Mixing for May Direct materials transferred from Baking 14000 $ 6.00 Direct labor Factory overhead $ $ $ 84,000 80,000 20,000 Completed units in May 8,000 Units sold in May 18,000 Work in process - Mixing 1/2 completed 6000 0.50 Finished goods (May 31) 7,000 1. Prepare a cost of production report for the Mixing Department. 2. Determine the cost of goods sold (indicate the number of units and the cost per unit). 3. Determine the finished goods inventory, May 31, 2010
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