Prepare a production cost worksheet

Assignment Help Accounting Basics

Reference no: EM131976850

Problem

Silver Spoon Incorporated is a manufacturer of kitchen utensils. It produces all of its products in one department. The information for the current month is as follows:

Beginning work in process                                       40,000 units
Units started                                                          52,000 units
Units completed                                                      73,000 units
Ending work in process                                            16,000 units
Spoilage                                                                 3,000 units
Beginning work-in-process direct materials                 $30,000
Beginning work-in-process conversion                       $ 8,000
Direct materials added during month                         $126,400
Direct manufacturing labor during month                   $60,480

Beginning work in process was 25% complete as to conversion. Direct materials are added at the beginning of the process. Factory overhead is applied at a rate equal to 40% of direct manufacturing labor. Ending work in process was 60% complete. All spoilage is normal and is detected at the end of the process.

Required: Prepare a production cost worksheet if spoilage is recognized and the weighted-average method is used.

Reference no: EM131976850

Questions Cloud

What is the rate law of the reaction : Given the following experimental data, find out. a. What is the rate law of the reaction? b. What is the rate constant for the reaction?

What will be the profit or loss on the futures contract : What will be the profit or loss on the futures contract if interest rates increase to 9.50 percent by December when the contract is closed out?

What is the ph of the buffer : A buffer is made by adding 0.24 mole acetic acid and 0.16 mole sodium acetate in 1L water. a. What is the ph of the buffer? pKa=4.2

Research on an australian corporations law case : HI6027 BUSINESS & CORPORATIONS LAW ASSIGNMENT. Research on an Australian case - Case introduction and The duties/responsibilities breached

Prepare a production cost worksheet : Silver Spoon Incorporated is a manufacturer of kitchen utensils. Prepare production cost worksheet if spoilage is recognized and weighted-average method is use.

Important of credit risk analysis to financial institution : Discuss the important of credit risk analysis to a financial institution.

Find the currents through resistors : Use Mesh-current method to find the currents through Resistors R1, R2, R3 and R4 and voltage (Vg) across the current source

Solution of sodium formate : The Ka of formic acid (HCOOH) is 1.8x10-4. What is the pH of 0.35 M solution of sodium formate (NaHCOO)?

What is the highest price the stock : What is the highest price the stock can go before she receives a margin call?

User Account

All Pages