Question
Prepare a production cost report using the FIFO method from the following information and journalize the transfer of costs of goods manufactured to the warehouse.
Prepare a production cost report using the FIFO method from the following information and journalize the transfer of costs of goods manufactured to the warehouse. Material is added to the product at the beginning of the process and conversion costs is added when process is half completed.
Units: WIP, Beginning 2,000 units started at 7,000
|
| Material | Conversion Costs |
| WIP Beginning 2,000 | 1/3 Completed | 5/8 Completed |
| Started & Finish ? | ? | ? |
| WIP ending 3,000 | Completed | 4/5 Completed |
| Transferred in | Material | Conversion costs |
| $1,000 | $8,000 | $17,000 |
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Vendor Audit Auditing Construction Contract Trust But Verify A Concise Guidebook On How To Execute Vendor Audit That Add Values To The Companys Bottom Line
Authors: Hin H Leong
1st Edition
1525554093, 978-1525554094
