13) Managerial Financial Accounting Assignments AP3-4 Solution

13) Managerial Financial Accounting Assignments AP3-4 Solution

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AP3-4
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Incorrect. Production Cost Report [LO 2, 3, 4, 5] Aussie Yarn Co. is a U.S. producer of woolen yarn made from wool imported from Australia. Raw wool is processed, spun, and finished before being shipped out to knitting and weaving companies. Material is added in the beginning of processing, and conversion costs are added evenly throughout processing. Aussie began the month of August with 6,200 units in process that were 100 percent complete as to materials and 70 percent complete as to labor and overhead. It started 29,800 units into production during the month of August of which 5,300 remained in ending Work in Process inventory and were 50 percent complete as to conversion costs. The cost data are as follows: Be gin nin g Wo rk in Pro ces s: Dir ect mat eria ls $5, 300 Dir ect lab or 1,7 00 Ma nuf act uri ng ove rhe ad 2,1 00 Co sts ad ded
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dur ing Au gus t: Dir ect mat eria ls $29 ,26 0 Dir ect lab or 15, 642 Ma nuf act uri ng ove rhe ad 15, 909 Prepare a production cost report for the month of August. (Round cost per equivalent unit to 2
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This note was uploaded on 06/21/2011 for the course MANAGERIAL MT425 taught by Professor Hodgson,k during the Spring '11 term at Kaplan University.

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13) Managerial Financial Accounting Assignments AP3-4 Solution

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