Cost of Production Report; Three Departments; Lost Units in All Departments.
The Globe Products Company makes a single product in three producing departments. Cost and production data for September are:
Dept. Dept. Dept.
No. 1001 No. 1002 No. 1003
Cost data:
Materials $12,250
Labor 14,570 $18,655 $8,100
Factory overhead 14,100 16,400 19,800
Production data:
Units started or received from
The Globe Products Company makes a single product in three producing departments. Cost and production data for September are:
Dept. Dept. Dept.
No. 1001 No. 1002 No. 1003
Cost data:
Materials $12,250
Labor 14,570 $18,655 $8,100
Factory overhead 14,100 16,400 19,800
Production data:
Units started or received from
preceding dept.. 100,000 90,000 80,000
Units completed and
Units completed and
transferred or shipped 90,000 80,000 70,000
Units in process 9/30 8,000 6,000 8,000
Stage of completion of closing inventory
:
Materials 100%
Labor + factory overhead 50% 33M% 25%
Required: (1) A schedule of equivalent production for each department.
(2) A cost of production report with quantity schedule.
Units in process 9/30 8,000 6,000 8,000
Stage of completion of closing inventory
:
Materials 100%
Labor + factory overhead 50% 33M% 25%
Required: (1) A schedule of equivalent production for each department.
(2) A cost of production report with quantity schedule.