Question: need answer solved in a sheet or doc Q.3. Sunsilk Company makes shampoos in through two processing departments. Mixing department and packaging department. The following

need answer solved in a sheet or doc

need answer solved in a sheet or doc Q.3. Sunsilk Company makes

Q.3. Sunsilk Company makes shampoos in through two processing departments. Mixing department and packaging department. The following activity was recorded in mixing department during July 2020. Production data Units in process July 1 (Material 100% complete, conversion 30% complete) 10,000 Units started in production 170,000 Units in process July 31 (Material 100% complete, conversion 40% complete) 20,000 Cost data Work in process inventory July 1 Material cost Rs 8,500 Conversion cost Rs. 4,900 Cost added during the month Material cost Rs 139,400 Conversion cost Rs.244.200 All materials are added at the beginning of work in the mixing department. The company uses FIFO method in its process costing system. Required: 1. Determine the equivalent units for July for the mixing department. 2. Compute the cost per equivalent unit for July for the mixing department. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next department. 4. Prepare a cost reconciliation report for July. (Marks 05)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!