FIT Bhd manufactures safety gear used by firefighters all over Malaysia. The manufacturing process goes through two
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FIT Bhd manufactures safety gear used by firefighters all over Malaysia. The manufacturing process goes through two departments. The following data was provided by the assembly department during February 2019.
% completed | |||
Units | Materials | Conversion | |
Units started into production | 460,000 | ||
Units completed and transferred out | 450,000 | ||
Beginning work in process | 70,000 | 30% | 60% |
Ending work in process | 80,000 | 75% | 25% |
Costs added in February | RM391,850 | RM267,300 | |
Beginning work in process | RM36,550 | RM13,500 |
Prepare a production cost worksheet for the assembly department using:
(i) FIFO method
(ii) Weighted average method
Related Book For
Managerial Accounting
ISBN: 978-0078111006
14th edition
Authors: Ray Garrison, Eric Noreen and Peter Brewer
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