CHAPTER #4: PROCESS COSTING: Q1. A company's Department 1 costs for June were: Cost added by the Department Materials $
Posted: Wed May 04, 2022 6:24 am
Process costing ,Plz do these 2 questions for me i will be very thankful
CHAPTER #4: PROCESS COSTING: Q1. A company's Department 1 costs for June were: Cost added by the Department Materials $ 24,500 Labour 29140 Factory Overhead 28200 The quantity schedule 49,000 units started in production during the month out of which 45,000 units were completed and 4,000 units are still in process which are 100% complete as to material and 1/2 completed as to conversion cost. Required: Prepare a Cost of Production Report for 1st Department. Q2. Brooks Incorporation uses process costing. The costs for Department 2 for April were: Cost from preceding department $20,000 Cost added by the department: Materials $21,816 Labour $ 7,776 Factory Overhead $ 4,104 33,695 The following information was obtained from the department's quantity schedule: Units received 5,000 Units transferred out 4,000 Units still in process 1,000 The degree of completion for the work in process as to costs originating in Department 2 was: 50% of the units were 40% complete; 20% were 30%; and the balance were 20% complete. Required: Prepare a Cost of Production Report.
CHAPTER #4: PROCESS COSTING: Q1. A company's Department 1 costs for June were: Cost added by the Department Materials $ 24,500 Labour 29140 Factory Overhead 28200 The quantity schedule 49,000 units started in production during the month out of which 45,000 units were completed and 4,000 units are still in process which are 100% complete as to material and 1/2 completed as to conversion cost. Required: Prepare a Cost of Production Report for 1st Department. Q2. Brooks Incorporation uses process costing. The costs for Department 2 for April were: Cost from preceding department $20,000 Cost added by the department: Materials $21,816 Labour $ 7,776 Factory Overhead $ 4,104 33,695 The following information was obtained from the department's quantity schedule: Units received 5,000 Units transferred out 4,000 Units still in process 1,000 The degree of completion for the work in process as to costs originating in Department 2 was: 50% of the units were 40% complete; 20% were 30%; and the balance were 20% complete. Required: Prepare a Cost of Production Report.