Company C uses the Process Costing system. The data regarding Company C are given below: November data
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Question:
Company C uses the Process Costing system. The data regarding Company C are given below:
November data | Forming Section | Placement Section |
Units: | ||
Starting Work in Progress | ---------------------- | 25,000 units |
production started | 60,000 units | |
Transfer from Previous Department | --------------------- | ? |
Completed Goods Inv. | 50,000 units | 60,000 units |
Expired WIP Invoice | 10,000 units | 15,000 units |
As Mandatory Direct Material | %80 | %50 |
As for the Mandatory Convers. Work | %50 | %60 |
Costs: | ||
Starting Work in Progress | --------------------- | $112,500 |
Transferred from Previous Section | --------------------- | ? |
Direct Ingredients Added | 145.000 $ | 135.000 $ |
Conversion Costs Added | 110.000 $ | $103,500 |
Calculate WIP Inventory Forming, WIP Inventory Addition and Finished Goods Inventory.
Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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