Work Problem using the FIFO method. The Dyeing Department beginning work in process of 65 units is
Question:
Work Problem using the FIFO method. The Dyeing Department beginning work in process of 65 units is 20% complete as to conversion costs. Round equivalent unit costs to four decimal places.
In problem
Requirements
1. Prepare a production cost report for Carol’s Dyeing Department for July.
2. Journalize all transactions affecting Carol’s Dyeing Department during July, including the entries that have already beenposted.
Transcribed Image Text:
UNITS Beginning Work-in-Process Inventory Transferred in from Spinning Department during July Completed during July Ending Work-in-Process Inventory (80% complete for 65 rolls 570 rols 520 rolls 115 rolls conversion work) COSTS Beginning Work-in-Process Inventory (transferred in costs, $3,900; materials costs, $1,625; conversion costs, $5,555) Transferred in from Spinning Department Materials costs added during July Conversion costs added during July (manufacturing wages $11,080 19,595 9,805 $9,450, manufacturing overhead, $43,135) 52,585
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Requirement 1 CAROL CARPET Production Cost ReportDYEING DEPARTMENT Month Ended July 31 2014 Equivalent Units UNITS Whole Units Transferred In Direct M...View the full answer
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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