Question
In: Accounting
Prepare a production cost report using the weighted average method and show the journal entry for...
Prepare a production cost report using the weighted average method and show the journal entry for transferring units from the molding to the welding department. I think I have it done correctly, but would like to see!
|
Work in process beginning: |
|
|
Units in process |
24,000 |
|
Stage of completion for materials |
80% |
|
Stage of completion for labor and overhead |
30% |
|
Costs in work in process inventory: |
|
|
Materials |
$172,460 |
|
Labor |
68,900 |
|
Overhead |
141,300 |
|
Total costs in beginning work in process |
$382,660 |
|
Units started into production in January |
71,000 |
|
Costs added to production: |
|
|
Materials |
$378,605 |
|
Labor |
690,080 |
|
Overhead |
1,383,160 |
|
Total cots added into production in January |
$2,451,845 |
|
Work in process ending |
|
|
Units in process |
21,000 |
|
Stage of completion for materials |
75% |
|
Stage of completion for labor and overhead |
20% |
Solutions
Expert Solution
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ekkarill92 answered 3 years agoRelated Solutions
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