AGH company uses a cost accounting system by order of manufacture. produces products A and B and
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AGH company uses a cost accounting system by order of manufacture. produces products A and B and other products specially requested by customers. the department of x uses a CIF emitted ratio of 150% MOD. The department y uses an estimated ratio of 200% MOD for CIFs. use FIFO methods to pay for materials used in manufacturing orders and sales.
the operations for the month of July were:
A. The balance as of July 1.
B. The invoice registration charges during the month were:
C. The shipments of materials were: 400 units of material 1 to the OF. 41; 70 units of material 2 to OF. 42; 300 units of material 1 to OF. 43; 120 units of material 2 to OF. 44.
C. The shipments of materials were: 400 units of material 1 to the OF. 41; 70 units of material 2 to OF. 42; 300 units of material 1 to OF. 43; 120 units of material 2 to OF. 44.
E. The estimated CIF rate was charged to the manufacturing orders.
F. The OF is completed. 41, 20 units of product A were obtained. It was completed from OF.42. This order was shipped directly to the customer at cost price. It was billed on credit.
G. 25 units of product A and 10 units of product B were sold, their price is calculated with a 40% surcharge on the unit cost of each product.
The CIF variation account should not be closed in the period. You are asked to determine the profit or l
Related Book For
Managerial Accounting An Introduction to Concepts Methods and Uses
ISBN: 978-0324639766
10th Edition
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
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