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Please use EXCEL SHEET. to answer 2 nd 3rd picture. Thank you so much. It will help me a lot. tonight is due date. please
Please use EXCEL SHEET. to answer 2 nd 3rd picture. Thank you so much. It will help me a lot. tonight is due date. please help me.
P5-10 Cost of production summary, two departments; beginning inventory (similar to Self-Study Problem 2) Reynolds Inc. uses a process cost system. The records for May show the following information Production Report Cutting Grinding 0,000 5,000 20,000 15,000 10,000 15,000 5,000 5,000 1/5 15,000 1/3 Production Costs Work in process, May 1 S 50,000 5,000 5,500 3,500 Costs transferred in from Cutting: Labor.... Factory overhead $ 5,000 6,450 3,550 Costs incurred during the month: 37,000 40,000 44,000 50,000 37,000 147,000 $185,000 45,000 Factory overhead Required: Prepare a cost of production summary for each department. (Hint: When preparing the Grinding production summary, refer to the Cutting production summary for the costs transferred in during the month.)
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