The Assembling Department of Origination Inc. had 10,000 units in process on December 1 and received 30,000 units from the Sewing Department. During the month, it completed 20,000 units and transferred them to the Packaging Department. Calculate the number of units accounted for by the Assembling Department for December.
Prepare the production cost report for the Assembling Department for the units for the month of December. Use the FIFO method.
Notes:
Ending Work-in-Process Inventory = Beginning Work-in-Process Inventory + Amount transferred in - Amount transferred out
Ending Work-in-Process Inventory = 10,000 + 30,000 - 20,000 = 20,000 units
Accounted for = Beginning balance + Started and completed + In process
Accounted for = 10,000 units + 10,000 + 20,000 = 40,000 units
Started and completed = Completed and transferred - Beginning balance
Started and completed = 20,000 - 10,000 = 10,000 units
You might also like to view...
The basic assumption that the picture of the present can be projected into the future is the basis of a
A. strategic goal. B. business plan. C. vision statement. D. SWOT analysis. E. trend analysis.
The ratio of net income for the year to the average assets for the year is called the ____________________
Fill in the blank(s) with correct word
Retail stores are often classified on the breadth and depth of their merchandise assortment. The breadth of the merchandise is the number of different lines available. The merchandise breadth may be classified as ________ or ________
A) narrow; broad B) narrow; deep C) shallow; broad D) shallow; deep E) narrow; full
A segment of a production or service process for which management wants a separate report is referred to as a(n) ______________________________
Fill in the blank(s) with correct word