Question
Prepare a production cost report using the weighted average method from the following information and journalize the transfer of cost of goods manufactured to the
Prepare a production cost report using the weighted average method from the following information and journalize the transfer of cost of goods manufactured to the warehouse. Material is added to the product when it is half finished and conversion is added evenly during the process.
Units: WIP, beginning 515,000
|
| Material | Conversion Costs |
| Units finished 960,000 | 100% | 100% |
| WIP ending 730,000 | 2/5 completed | 3/5 completed |
| Transferred in | $50,000 | $51,000 |
| Current Costs | $800,000 | $1,175,000 |
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Issues In Management Accounting
Authors: David Ashton
2nd Edition
0131892509, 978-0131892507
