The following data for the month of September were taken form the cost records of Department 1
Question:
The following data for the month of September were taken form the cost records of Department 1 of Pro-Life products which uses process costing system:
Opening inventory of work in process:
Units - 500 (with all materials added and 50% of labor and overhead)
Cost - Materials2, 400
Labor1, 500
Factory overhead760
Put into production:
Units - 5, 000
Costs - Materials25, 100
Labor19, 380
Factory overhead14, 900
Completed and transferred - 4, 800 units
Ending inventory of work in process:
Units - 700 (with all materials, and 60% of labor and overhead)
The cost per equivalent unit (rounded to nearest centavo) under FIFO:
The cost per equivalent unit (rounded to nearest centavo) under weighted average:
The following data for the month of September were taken form the cost records of Department 1 of Pro-Life products which uses process costing system:
Opening inventory of work in process:
Units - 500 (with all materials added and 50% of labor and overhead)
Cost - Materials2, 400
Labor1, 500
Factory overhead760
Put into production:
Units - 5, 000
Costs - Materials25, 100
Labor19, 380
Factory overhead14, 900
Completed and transferred - 4, 800 units
Ending inventory of work in process:
Units - 700 (with all materials, and 60% of labor and overhead)
The cost per equivalent unit (rounded to nearest centavo) under FIFO:
The cost per equivalent unit (rounded to nearest centavo) under weighted average:
Horngrens Accounting
ISBN: 978-0134674681
12th edition
Authors: Tracie L. Miller nobles, Brenda L. Mattison, Ella Mae Matsumura