Refer to the information for Aztec Inc. on the previous page. Aztec Inc. produces soft drinks. Mixing
Question:
Refer to the information for Aztec Inc. on the previous page.
Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:
Production:
Units in process, July 1, 80% complete.................120,000 gallons
Units completed and transferred out....................690,000 gallons
Units in process, July 31, 75% complete.................80,000 gallons
Costs:
Work in process, July 1...........................................$ 120,000
Costs added during July...........................................1,471,500
Required:
Prepare a production report.
Step by Step Answer:
Managerial Accounting The Cornerstone of Business Decision Making
ISBN: 978-1337115773
7th edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger