Mixing Department has gathered the following information for June 2022: Units of beginning work in process
Question:
Mixing Department has gathered the following information for June 2022:
Units of beginning work in process ……………………………… 20,000 Units started into production during the month of June 40,000
Units of ending work in process…………………………………… 25,000
Percentage of completion of conversion costs of ending work in process…. 40% $
Cost of opening work-in-process: Direct materials (100% complete) …………………….. $10,000
Conversion cost (partially complete) $24,000 $
Costs incurred in the month of June:
Direct materials………………………………………………….. $80,000
Conversion costs………………………………………………… $57,000
Required: Prepare a Production Cost Report for Mixing Department for June 2022. The formula is to be clearly shown.
Managerial Accounting
ISBN: 978-1260413984
4th edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips