Base you answer on the following data from gold star

Assignment Help Cost Accounting

Reference no: EM13379853

Base you answer on the following data from Gold Star Products, Inc., for the month of January. The company uses the average cost method of accounting for beginning work in process.

Gold Star Products, Inc., for the month of January
Quantity		Stage of Completion of Ending Work in Process
Work in Process - Beginning	400	Materials	complete
Started in Production - Current Month	600	Labor	60%
Transferred Out to Next Department	800	Overhead	60%
Work in Process - Ending	190
Lost in Production
Costs
Work in Process - Beginning:
Materials	$9,968.00
Labor	2,224.80
Overhead	1,898.40
Total	$14,091.20
Current Month:
Materials	$15,041.11
Labor	11,589.19
Overhead	9,895.25
Total	$36,525.55

1. How many units were lost in production?

2. The equivalent production for materials, labor, and overhead, respectively is:

3. The unit costs of materials, labor, and overhead, respectively are:

4. The costs transferred to the next department total:

5. The cost of the labor in ending Work in Process is:

Reference no: EM13379853

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