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PLEASE HELP SOLVE THESE QUESTIONS WITH SOLUTIONS PLS SSS Incorporated uses a process-costing system and manufactures a single product - an all-purpose liquid cleaner. The
PLEASE HELP SOLVE THESE QUESTIONS WITH SOLUTIONS PLS
SSS Incorporated uses a process-costing system and manufactures a single product - an all-purpose liquid cleaner. The manufacturing activity for the month of March has just been completed. A partially completed production cost report for the month of March is shown below: SSS INCORPORATED COMPANY Mixing and Blending Department Production Cost Report For the Month Ended March 31 Equivalent Units QUANTITIES Physical Units Materials Conversion Costs Units to be accounted for Work-in-process, March 1 (40% materials, 10,000 20% conversion costs) Started into production 100,000 Total units 110,000 Units accounted for Transferred out 95,000 Work-in-process, March 31 (60% materials, 20% conversion costs) 15,000 Units costs Materials Conversion Costs Total Cost in March $156,000 $98.000 $254.000 Equivalent units Unit costs $ Cost to be accounted for Work-in-process, March 1 $ 8.700 Started into production 245,300 Total costs 254.000 Cost Reconciliation Table Cost accounted for Transferred out $ Work-in-process, March 31 Materials Conversion costs Total costsStep by Step Solution
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