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Table 1: Data for the Crushing and Fermenting Department for August 2011
Physical units (barrels)
Direct materials
Conversion costs
Work in process, August 1
200
568.400
358,120
Degree of completion of beginning work in process
100%
70%
Started during August 2017
1,503
Completed during August 2017
1200
Work in process. August 31
Degree of completion of ending work in process
500
. . .
60%
Total costs added during August 2017
S513.000
3436000
nest M runttarb valses at ID tddellos
Table 2:Data for the Bottling Department for August 2017
Transferred•in
Work in process. August 1
... . ....... , .. . .. . .
Degree of completion of beginning work in process Transferred-in during August 2017
250
7 300
$100.000 100%
SO 0%
$7.105 70%
1,150
0%
total costs added during August 2017
7
$18,400
514,025
Nme /41nrettgy fa,Jes re n US egtars.
Problem 1. Prepare production reports under the weighted average as well as the FIFO method. What is the cost per bottler under each method? What is considered as normal and abnormal spoilage, respectively in the wine making process? How are the costs associated with normal and abnormal spoilage treated? Is it appropriate to ignore the cost of normal spoilage because all spoilage is normal?
Problem 2. Myka would like to maintain a 50% gross profit to cover AVS/s administrative expenses of US$125,000 and target a 15% net profit. What should the target cost per case be in order to achieve these goals? Does the current production report in AVS help achieve these targets? Does your final production report show costs per case that will lead to achieving these targets?
Problem 3. What are the possible reasons for managers to stat that all spoilage is normal? What additional information would you request from managers to confirm that there is no abnormal spoilage and that all spoilage is normal?
Attachment:- FIFO.rar
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