Frozen Delight has two manufacturing departments: Mixing and Packaging. The manufacturing data for the Mixing Department...
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Frozen Delight has two manufacturing departments: Mixing and Packaging. The manufacturing data for the Mixing Department for July 2022 are as follows: Work in process inventory, July 1, 5,000 gallons Direct Materials Cost $4,200 Conversion Costs 2,000 During July 60,000 units were started Direct materials cost incurred in July Direct labor cost incurred in July Factory overhead applied in July 66,000 10,500 6,405 Total production costs to account for $89,105 Number of units transferred to Packaging in July, 62,000 gallons Work in process inventory, July 31, 3,000 gallons, 100% completed as to direct materials cost, 25% completed as to conversion costs. Prepare the production cost report using the weighted average method. Frozen Delight has two manufacturing departments: Mixing and Packaging. The manufacturing data for the Mixing Department for July 2022 are as follows: Work in process inventory, July 1, 5,000 gallons Direct Materials Cost $4,200 Conversion Costs 2,000 During July 60,000 units were started Direct materials cost incurred in July Direct labor cost incurred in July Factory overhead applied in July 66,000 10,500 6,405 Total production costs to account for $89,105 Number of units transferred to Packaging in July, 62,000 gallons Work in process inventory, July 31, 3,000 gallons, 100% completed as to direct materials cost, 25% completed as to conversion costs. Prepare the production cost report using the weighted average method.
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Answer rating: 100% (QA)
To prepare the production cost report using the weighted average method we need to calculate the equivalent units of production for both direct materials and conversion costs We then calculate the cos... View the full answer
Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date:
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