Using the data in BE3-10, prepare the cost section of the production cost report for Pix Company.
Question:
Using the data in BE3-10, prepare the cost section of the production cost report for Pix Company.
In BE3-10
Pix Company has the following production data for March: no beginning work in process, units started and completed 30,000, and ending work in process 5,000 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $6 and unit conversion cost is $10, determine the costs to be assigned to the units transferred out and the units in ending work in process. The total costs to be assigned are $530,000.
Step by Step Answer:
Units accounted for Completed and transferred out Work in process March 1 Start...View the full answer
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1119036432
7th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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