Surf Products Company uses an automated process to clean and polish its souvenir items. For March, the
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Question:
Surf Products Company uses an automated process to clean and polish its souvenir items. For March, the company had the following activities:
Beginning work in process inventory 0 items
Units placed in production 400 units
Units completed 175 units
Ending work in process inventory 225 items, 60% complete
Cost of beginning work in process $0
Direct material costs, current $32,000
Conversion costs, current $18,600
Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.
Required:
Prepare a production cost worksheet using the 5-Step method.
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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