Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q.2. Marko Manufacturing Company uses process costing system. The cost incurred in department 2 during the month of October 2019 were, Details Amount $ Direct

image text in transcribed

Q.2. Marko Manufacturing Company uses process costing system. The cost incurred in department 2 during the month of October 2019 were, Details Amount $ Direct Material Cost 39,600 Direct Labor Cost 237,600 Factory overheads 158,400 The quantity schedule shows that 50,000 units were received from department 1 at a unit cost of $ 9. During the month 30,000 units were completed and transferred to next department. 5000 units were completed but in hand, 5000 units were lost during processing. The remaining units were in process at the end of the month. The stage of the units was as follows. 50% of the units were 50% complete 30% of the units were 60% complete 20% of the units were 40% complete Required: Prepare a cost of production report for 2nd department for the month of October 2019

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach Chapters 1-15

Authors: Jeffrey Slater

7th Edition

0130954888, 978-0130954886

More Books

Students also viewed these Accounting questions