P16 - P16-5B Kiley Company manufactures bicycles and...

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P16-4B Crosby Company has several processing departments. Costs charged to the Assembly Department for October 2010 totaled $1,354,400 as follows. Work in process, October 1 $29,000 Conversion costs 26,200 $ Materials added 1,071,000 Overhead Production records show that 25,000 units were in beginning work in process 40% complete as to conversion cost, 415,000 units were started into production, and 40,000 units were in ending work in process 60% complete as to conversion costs. Materials are entered at the beginning of each process. Hint: Assign costs and prepare production cost report. (SO 5 , 6 , 7 ) Instructions (a) Determine the equivalent units of production and the unit pr Assembly Department. (b) Determine the assignment of costs to goods transferred out Transferred out WIP (c) Prepare a production cost report for the Assembly Departme
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Unformatted text preview: P16-5B Kiley Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Production and cost data for the month of May are as follows. Production DataBicycles Units Percent Complete Work in process units, May 1 500 Units started in production 1,000 Work in process units, May 31 600 Cost DataBicycles Work in process, May 1 $10,000 Conversion costs 9,280 Direct materials Manufacturing overhead Hint: Determine equivalent units and unit costs and assign costs. (SO 5 , 6 , 7 ) Instructions (a) Calculate the following. (1) Materials (2) Materials (3) Transferred out WIP (b) Prepare a production cost report for the month of May for th...
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This note was uploaded on 11/06/2011 for the course ACCOUNTING ac 202 taught by Professor - during the Fall '11 term at Montgomery.

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P16 - P16-5B Kiley Company manufactures bicycles and...

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