Make a production cost report

Assignment Help Finance Basics

Reference no: EM1350354

Aussie Yarn Co. is a U.S. producer of woolen yarn made from wool imported from Australia. Raw wool is processed, spun, and finished before being shipped out to knitting and weaving companies. Material is added in the beginning of processing, and conversion costs are added evenly throughout processing. Aussie began the month of August with 6,000 units in process that were 100 percent complete as to materials and 70 percent complete as to labor and overhead. It started 29,000 units into production during the month of August of which 5,000 remained in ending Work in Process inventory and were 50 percent complete as to conversion costs. The cost data are as follows:

Beginning work in process:
Direct materials $5,000
Direct labor 1,300
Manufacturing overhead 1,800
$8,100

Costs added during August:
Direct materials $26,500
Direct labor 12,350
Manufacturing overhead 14,450
$53,300

Required
Prepare a production cost report for the month of August.

Reference no: EM1350354

Questions Cloud

Clinical and cultural factors of professional codes of ethic : When thinking of clinical and cultural factors of professional codes of ethics, agency and employer policies, federal, state, local statues, rules and regulations and case laws, what is a scenario in which ethical principles/codes and/or laws migh..

Explaining smartphones as important digital devices : Many resources will suggest that in the next few coming years, smartphones will become the one of the most important digital devices we own. Explain the implications of this statement.

Explain how such function are used in the context : Briefly Explain how such function are used in the context of internal analysis

Company cost of preferred stock : Tunney Industries can issue perpetual preferred stock at a price of $50 a share. The issue is expected to pay a constant annual dividend of $3.80 a share.

Make a production cost report : Aussie Yarn Corporation is a United State producer of woolen yarn made from wool imported from Australia. Raw wool is processed, spun, and finished before being shipped out to knitting and weaving companies.

Cost of trade credit-cash conversion cycle : Calculate the nominal annual cost of nonfree trade credit under each of the following terms. Assume payment is made either on the due date or on the discount date.

What is the speed of the block after the bullet embeds : A bullet of mass 0.018kg traveling horizontally at a high speed of 290m/s embeds itself in a block of mass 4 kg that is sitting at rest on a nearly frictionless surface.

Explain what type of cultural shock should they expect : Explain what type of cultural shock should they expect and How would you help them alleviate this stress?

What are conflict handling techniques : What are some conflict handling techniques and when are they appropriate to use and what are the positive and negative impacts?

User Account

All Pages