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Prepare Cost of Production Report per Department for the month of February 20XX with the following: (a) Quantity schedule; (b) Computation of unit costs (cost
Prepare Cost of Production Report per Department for the month of February 20XX with the following: (a) Quantity schedule; (b) Computation of unit costs (cost from preceding, unit cost for materials, unit cost for conversion costs); (c) Cost allocation/reconciliation between completed units, WIP-end, and/or abnormal lost units.
PROCESS MOTO CORP., manufactures educational toys using both Weighted Average and FIFO Method in process costing systems. Plastic is molded into the appropriate shapes in the Molding Department. Molded components are transferred to the Assembly Department where the toys are assembled and additional materials (for example, fasteners and decals) are applied. Completed toys are then transferred to the Packaging Department where each toy is boxed. The cost accountant showed the following data on toy production for February; Beginning and ending work in process for the three departments showed the following degree of completion: PROCESS MOTO CORP., manufactures educational toys using both Weighted Average and FIFO Method in process costing systems. Plastic is molded into the appropriate shapes in the Molding Department. Molded components are transferred to the Assembly Department where the toys are assembled and additional materials (for example, fasteners and decals) are applied. Completed toys are then transferred to the Packaging Department where each toy is boxed. The cost accountant showed the following data on toy production for February; Beginning and ending work in process for the three departments showed the following degree of completionStep by Step Solution
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