Cost of production report: A company’s Department 2 costs for June were; Cost from Department 1 ………………………………..Rs. 16,320 Cost added in Department 2: Materials ……………………………………………………… 43,415 Labor …………………………………………………………… 56,100 Factory overhead ………………………………………. 58,585 The quantity schedule shows 12,000 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of June were 50% complete as to materials cost and 25% complete at to conversion cost. REQUIRED: a) Equivalent Production Unit b) Unit Cost at Depart 2, c) Cost of Units transferred to Finished goods d) Cost of Work in Process at the end of June
Cost of production report: A company’s Department 2 costs for June were; Cost from Department 1 ………………………………..Rs. 16,320 Cost added in Department 2: Materials ……………………………………………………… 43,415 Labor …………………………………………………………… 56,100 Factory overhead ………………………………………. 58,585 The quantity schedule shows 12,000 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of June were 50% complete as to materials cost and 25% complete at to conversion cost. REQUIRED: a) Equivalent Production Unit b) Unit Cost at Depart 2, c) Cost of Units transferred to Finished goods d) Cost of Work in Process at the end of June
Chapter5: Process Costing
Section: Chapter Questions
Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...
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Cost of production report: A company’s Department 2 costs for June were;
Cost from Department 1 ………………………………..Rs. 16,320
Cost added in Department 2:
Materials ……………………………………………………… 43,415
Labor …………………………………………………………… 56,100
Factory overhead ………………………………………. 58,585
The quantity schedule shows 12,000 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of June were 50% complete as to materials cost and 25% complete at to conversion cost.
REQUIRED:
a) Equivalent Production Unit
b) Unit Cost at Depart 2,
c) Cost of Units transferred to Finished goods
d) Cost of Work in Process at the end of June
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