Question: Refer to the data in Cornerstone Exercise 6-29. Production: Units in process, August 1, 80 percent complete 20,000 gallons Units completed and transferred out 138,000

Refer to the data in Cornerstone Exercise 6-29.

Production:

Units in process, August 1, 80 percent complete 20,000 gallons

Units completed and transferred out 138,000 gallons

Units in process, August 31, 75 percent complete 16,000 gallons

Costs:

Work in process, August 1 $ 19,200

Costs added during August 180,900


Required:

Prepare a cost of production report.


Exercise 6-29.

Production: Units in process, August 1, 80 percent complete ..........20,000 gallons 

Units completed and transferred out ...................................................138,000 gallons 

Units in process, August 31, 75 percent complete ..........................16,000 gallons 


Costs: Work in process, August 1 ..$ 19,200 

Costs added during August ..........180,900

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