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Please answer the questions using the table format of COPR on the 2nd attached photo. Thank you! (1...The Maya Manufacturing Company uses average costing. Production
Please answer the questions using the table format of COPR on the 2nd attached photo. Thank you!
(1...The Maya Manufacturing Company uses average costing. Production data for December are as follows: Units Quantity Remarks In process, Dec. 1 8,000 1/2 complete Started to process 40,000 In process, Dec. 31 12,000 1/3 complete Amount Costs, WIP in Dec. 1 Materials P 20,000 Labor 10,000 Factory Overhead 5,000 Costs Added in December Materials 60,000 Labor 70,000 Factory Overhead 35,000 Required: Prepare COPR using (a) Weighted Average Method - assuming all costs are applied evenly/uniformly. (b) Weighted Average Method - assuming the company adds 40% of the materials at the start of the process, 30% when 1/3 complete, and the balance when the process is 1/2 complete. Conversion costs are applied evenly. WAM Cost of Production Report For the month ended Department Physical Units Quantity Schedule WIP, beg Started to process Total Units to be Accounted For Units WDM EPM WDC EPC Finished and transferred to the next department Total Units transferred WIP, End Total Units as Accounted for Amount Unit Cost Cost Analysis Cost WIP Beg Material Labor Overhead Cost from previous department Material Labor Overhead Cost incurred during the month Total cost to be Accounted for Amount Finished and transferred to the next department WIP, Beg Cost last month Cost this month Started to process Cost from previous department Cost this month Total Cost of Transfer WIP, Ending Cost from previous department Cost this month Total Cost as Accounted forStep by Step Solution
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