The Magnatto Company manufactures electric drills. Material is introduced at the beginning of the process in the
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As the process is completed, goods are immediately transferred to the finishing department.
Data for the assembly department for the month of July 20X1 follow:
Work in process, June 30: $175,500 (consisting of $138,000 materials and $37,500 conversion costs); 100% completed for direct materials, but only 25% completed for conversion costs 10,000 units
Units started during July 80,000 units
Units completed during July 70,000 units
Work in process, July 31: 100% completed for direct materials, but only 50% completed for conversion costs 20,000 units
Direct materials added during July $852,000
Conversion costs added during July $634,500
1. Compute the total cost of goods transferred out of the assembly department during July.
2. Compute the total costs of the ending work in process. Prepare a production-cost report or a similar orderly tabulation of your work. Assume weighted-average product costing.
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Related Book For
Introduction to Management Accounting
ISBN: 978-0133058789
16th edition
Authors: Charles Horngren, Gary Sundem, Jeff Schatzberg, Dave Burgsta
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