Cancun Chemicals, Inc., which uses the process cost system, has two departments: A and B. In both
Question:
Cancun Chemicals, Inc., which uses the process cost system, has two departments: A and B. In both departments, all of the materials are put into production at the beginning of the process. The materials added in Dept. B increase the number of units being processed by 25%. Labor and factory overhead are incurred uniformly throughout the process in all departments.
A record of the factory operations for May follows:
Required:
Prepare a cost of production summary for each department for the month ofMay.
Transcribed Image Text:
Cost Summary Materials Dept. A $25,000 10,800 8,100 Dept. B $ 7,500 10,140 7,215 .. Factory overhead .. Production Summary Units Dept. A 10,000 Dept. B Started in process Received from prior department.... Added to units in process.. . . Finished and transferred.. 8,500 1,500 9,500 500 1/2 8,500 1,500 1/3 Stage of completion...
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Cancun Chemicals Inc Cost of Production SummaryDept A For the Month Ended May 31 20 Cost of production for month Materials 25000 Labor 10800 Factory overhead 8100 Total costs to be accounted for 43900 ...View the full answer
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