Cost accounting problems Business and Finance homework help
Kali Manufacturing Inc. began the year with the following.
|Beginning work-in-process||20,000||20% complete|
|Transferred to finished goods||60,000|
|Ending inventory||10,000||70% complete|
Materials added at the beginning of the process
Calculate the equivalent units for
Glass Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for the current month are as follows.
|In process, beginning of month (20% converted)||2000|
|Started during current month||8000|
|Completed and transferred to finished goods||5500|
|In process, end of month (60% converted)||4500|
|Work in process, beginning|
|Production Costs Added|
|-Direct labor cost||$105,000|
|-Factory overhead cost||$36,150|
Prepare a cost of production report for current month. Use Weighted-Ave process costing.
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