Octavia Corp.'s products are manufactured in three separate departments: Molding, Curing, and Finishing. Materials are introduced in
Question:
Octavia Corp.'s products are manufactured in three separate departments: Molding, Curing, and Finishing. Materials are introduced in Molding; additional material is added in Curing. The following information is available for the Curing Department for May 2010:
Beginning WIP Inventory (degree of completion: transferred in,
100%; direct material, 80%; direct labor, 40%; overhead, 30%) ...8,000 units
Transferred in from Molding .................... 40,000 units
Ending WIP Inventory (degree of completion: transferred in, 100%;
direct material, 70%; direct labor, 50%; overhead, 40%) ........4,000 units
Transferred to Finishing
Prepare, in good form, a weighted average cost of production report for the Curing Department for May2010.
Step by Step Answer:
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn