Peterson Company produces a product that passes through three processes: Fabrica- tion, Assembly, and Finishing. All...

 

Transcribed Image Text:

Peterson Company produces a product that passes through three processes: Fabrica- tion, Assembly, and Finishing. All manufacturing costs are added uniformly for both processes. The following information was obtained for the Assembly Department for April 2004: a. Work in process, April 1, had 10,000 units (40 percent completed) and the following costs: Direct materials Direct labor Overhead $ 8,000 12,000 4,000 b. During the month of April, 20,000 units were completed and transferred to the Finishing Department, and the following costs were added to production: Direct materials Direct labor Overhead $24,000 16,000 12,000 c. On April 30, there were 5,000 partially completed units in process. These units were 80 percent complete. Required: Prepare a cost of production report for the Assembly Department for April using the weighted average method of costing. The report should disclose the physical flow of units, equivalent units, and unit costs and should track the disposition of manufacturing costs. Refer to the data in Problem 5-18. Required: Prepare a cost of production report for the Assembly Department for April using the FIFO method of costing. Peterson Company produces a product that passes through three processes: Fabrica- tion, Assembly, and Finishing. All manufacturing costs are added uniformly for both processes. The following information was obtained for the Assembly Department for April 2004: a. Work in process, April 1, had 10,000 units (40 percent completed) and the following costs: Direct materials Direct labor Overhead $ 8,000 12,000 4,000 b. During the month of April, 20,000 units were completed and transferred to the Finishing Department, and the following costs were added to production: Direct materials Direct labor Overhead $24,000 16,000 12,000 c. On April 30, there were 5,000 partially completed units in process. These units were 80 percent complete. Required: Prepare a cost of production report for the Assembly Department for April using the weighted average method of costing. The report should disclose the physical flow of units, equivalent units, and unit costs and should track the disposition of manufacturing costs. Refer to the data in Problem 5-18. Required: Prepare a cost of production report for the Assembly Department for April using the FIFO method of costing.

Answer rating: 100% (QA)

It is assume th... View the full answer