Chen Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs

Question:

Chen Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2012 are as follows:
Chen Company manufactures basketballs. Materials are added at the beginning

Instructions
(a) Calculate the following:
1. The equivalent units of production for materials and conversion costs
2. The unit costs of production for materials and conversion costs
3. The assignment of costs to units transferred out and in process at the end of the accounting period
(b) Prepare a production cost report for the month of July for the basketballs.

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Related Book For  book-img-for-question

Managerial Accounting Tools for Business Decision Making

ISBN: 978-1118033890

3rd Canadian edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly

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