Solution-Prepare a cost of production summary for each

Prepare a cost of production summary for each department

Assignment Help Cost Accounting

Reference no: EM131347341

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:
Materials	$ 68,000		$ 44,000
Labor	51,000		22,000
Factory overhead	34,000	153,000	33,000	99,000
Total		$ 162,000		$ 127,800

	Production Costs
	Machining	Assembly
	(Units)	(Units)
In process, beginning of month	1,000	1,000
Finished and transferred during month	5,000	4,000
In process, end of month	2,000	2,000
Stage of completion as to materials, labor, overhead	One-half	One-half

Requirements:

Prepare a cost of production summary for each department for the month.

Attachment:- Module-Problems.xlsx

Reference no: EM131347341

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Prepare a cost of production summary for each department

Reference no: EM131347341

Reference no: EM131347341

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