Complete the production cost report

Reference no: EM13155157

Massey Corporation uses a process cost system and the weighted-average cost flow assumption. Production begins in the Fabricating Department where materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. On March 1, the beginning work in process inventory consisted of 20,000 units which were 60% complete and had a cost of $190,000, $145,000 of which were materials costs. During March, the following occurred:

Materials added $305,000

Conversion costs incurred $120,000

Units completed and transferred out in March 50,000

Units in ending work in process March 31 (20% complete) 25,000

Instructions

Complete the Production Cost Report for March

Reference no: EM13155157

Questions Cloud

Topic on 19th century drama : Can someone give me a topic on 19th century drama? I need to write a 10-page informative paper on any given topic on 19th century drama. It's kind of a bit broad for me so i'm having a hard time thinking up a good idea.

Calculate the amount of heat required : Calculate the amount of heat required to heat a 3.5 kg gold bar from 21 degrees celsius to 67 degrees celcius.

Cash until the note matures : Max Company purchased equipment on November 1, 2010 and gave a 16-month, 12% note with a face value of $5,000. Interest will not be paid in cash until the note matures. The December 31, 2010 adjusting entry is ??

Compute depreciation for meca concrete : Meca Concrete purchased a mixer on January 1, 2007, at a cost of $45,000. Straight-line depreciation for 2007 and 2008 was based on an estimated 8-year life and $3,000 estimated residual value. Compute depreciation for 2009 and 2010.

Complete the production cost report : Massey Corporation uses a process cost system and the weighted-average cost flow assumption. Production begins in the Fabricating Department-Complete the Production Cost Report for March

Settlement of equity : Partners share profits and losses as follows: Adams 20%; Bell 30%; and Cooley 50%. If Cooley retires and withdraws $40,000 in settlement of her equity and settlements are allocated according to capital interests, the amount entered in Adams's capi..

Unamortized discount-premium on the effective interest basis : The bonds are dated January 1, 2010, and mature January 1, 2015, with interest payable December 31 of each year. Osborn Company allocates interest and unamortized discount or premium on the effective interest basis.

Balance sheet and statement of cash flows : eWare Corp started operations Jan 1, 2009. Using the information from December 31, 2009 prepare income statement, retained earnings statement, balance sheet and statement of cash flows:

Problem regarding sole propritorship : Luis is the sole shareholder of Stork Inc. a C corporation, and Eduardo owns a sole propritorship. Both businesses were started in 2010 and make a profit of 80,000 this year. Each owner withdraws 50,000 from his business during the year. Which of ..

User Account

All Pages