noor Company - Process costing Al noor Company manufactures a product that passes through two departments,...

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noor Company - Process costing Al noor Company manufactures a product that passes through two departments, Baking and Packaging. All materials are added at the beginning of each process. Labor and manufacturing overheads (Conversion costs) are incurred uniformly throughout each process. The company uses the weighted average method in their process costing system. Production and cost data for the Baking Department during May 2021 are presented below: Production data May 2021 Beginning work in process units -0- Units started into production 15,000 Ending work in process units 6,000 Percent complete - ending work in process with respect to conversion costs. 60% Cost data Direct Materials SAR 30,000 Direct Labor SAR 47,000 Manufacturing Overhead SAR 28,600 Total SAR 105,600 Required: Prepare the production cost report for the Baking Department for the month of May. Show the following (a) Prepare a schedule showing physical units of production (b) Determine the equivalent units of production for materials and conversion costs (c) Compute the unit cost of production (d) Determine the costs to be assigned to the units transferred out and in process for May noor Company - Process costing Al noor Company manufactures a product that passes through two departments, Baking and Packaging. All materials are added at the beginning of each process. Labor and manufacturing overheads (Conversion costs) are incurred uniformly throughout each process. The company uses the weighted average method in their process costing system. Production and cost data for the Baking Department during May 2021 are presented below: Production data May 2021 Beginning work in process units -0- Units started into production 15,000 Ending work in process units 6,000 Percent complete - ending work in process with respect to conversion costs. 60% Cost data Direct Materials SAR 30,000 Direct Labor SAR 47,000 Manufacturing Overhead SAR 28,600 Total SAR 105,600 Required: Prepare the production cost report for the Baking Department for the month of May. Show the following (a) Prepare a schedule showing physical units of production (b) Determine the equivalent units of production for materials and conversion costs (c) Compute the unit cost of production (d) Determine the costs to be assigned to the units transferred out and in process for May

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Answer Solution a Schedule of Physical units of production Flow of production Physical units of flow Units to be accounted for Units in beginning work ... View the full answer