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Assignment
Berg Products manufactures one product in two departments on a continuous basis and uses the average method of process cost accounting.
The following information was reported for the month of May.
Production Costs
Machining
Assembly
Work in process, beginning of month:
$ -
$ 27,000
Cost in Machining
Materials
$ 4,000
$ 800
Labor
3,000
400
Factory overhead
2,000
$ 9,000
600
$ 1,800
Cost incurred during month:
$ 68,000
$ 44,000
51,000
22,000
34,000
153,000
33,000
99,000
Total
$ 162,000
$ 127,800
(Units)
In process, beginning of month
1,000
Finished and transferred during month
5,000
4,000
In process, end of month
Stage of completion as to materials, labor, overhead
One-half
Requirements:
Prepare a cost of production summary for each department for the month.
Attachment:- Module-Problems.xlsx
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