Solution-Prepare cost of production report

Prepare cost of production report

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Reference no: EM132764371

Question - Krug Corp. makes tables. Inspection/rejection of tables occur at the 80% point of manufacturing. The company uses FIFO costing. Normal spoilage is considered to be 5% of finished goods. The following information is available:

Physical Units Materials Conversion

Work-in-process inventory - beginning 1,200 $1,000 $800

Started 10,000 12,000 32,000

Finished 9,500

Work-in-process inventory - end 1,000

Degree of completion

Beginning inventory : 80% materials, 60% conversion

Ending inventory: 40% materials, 70% conversion

Required - Prepare cost of production report.

Reference no: EM132764371

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Prepare cost of production report

Reference no: EM132764371

Reference no: EM132764371

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