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The accountant has to value finished units and ending production inventory in process. For this, it has the following information for the month of September:
| The accountant has to value finished units and ending production inventory in process. For this, it has the following information for the month of September: | |||||||
| Percent Completed | |||||||
| Units | Materials | Conversion | |||||
| Work in process inventory, October 1 | 3,000 | 60% | 30% | ||||
| Work in process inventory, October 31 | 2,000 | 50% | 20% | ||||
| They also provided the following information: | |||||||
| Intitial inventory of direct materials | $ 100,000.00 | ||||||
| Purchases of direct materials | $ 300,000.00 | ||||||
| Final inventory of direct materials | $ 184,000.00 | ||||||
| 10,000 hours were worked in the month, paying the workers $53.10 for each hour worked. With which the goal of obtaining a direct labor unit cost of $118 was achieved. Indirect expenses are made up of: | |||||||
| Indirect materials | $ 12,000.00 | ||||||
| Indirect labor | $ 8,000.00 | ||||||
| Depreciation | $ 15,000.00 | ||||||
| Rent | $ 55,000.00 | ||||||
| Phone | $ 7,000.00 | ||||||
| Water | $ 5,000.00 | ||||||
| Electricity | $ 12,000.00 | ||||||
| HELP HIM TO PREPARE THE PRODUCTION REPORT IN UNITS, AS WELL AS TO VALUATE THE FINISHED UNITS AND THE FINAL INVENTORY FROM WORK IN PROCESS. | |||||||
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