2. In the Shaping Dept at the beginning of the month, we had 800 decorative bowls that were 3/5 complete. We started 14,200 more bowls during the month. At the end of the month, we had 1,000 bowls that were 4/5 complete. Assume DM are added at the beginning of the process and CC are added evenly throughout the process. At the beginning of the month, the materials cost was $1,800 and the conversion cost was $312. During the month, we added $33,370 of materials and $10,024 of conversion costs. Prepare the 5-step Production Cost Report using: FIFO a. b. Weighted Average For each method, at the end of the month what is the cost transferred out to the next department and what is the cost remaining in WIP - Shaping Dept?

2. In the Shaping Dept at the beginning of the month, we had 800 decorative bowls that were 3/5 complete. We started 14,200 more bowls during the month. At the end of the month, we had 1,000 bowls that were 4/5 complete. Assume DM are added at the beginning of the process and CC are added evenly throughout the process. At the beginning of the month, the materials cost was $1,800 and the conversion cost was $312. During the month, we added $33,370 of materials and $10,024 of conversion costs. Prepare the 5-step Production Cost Report using: FIFO a. b. Weighted Average For each method, at the end of the month what is the cost transferred out to the next department and what is the cost remaining in WIP - Shaping Dept?

Name: 2.In the Shaping Dept at the beginning of the month, we had 800 decor
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Description: 2.In the Shaping Dept at the beginning of the month, we had 800 decorative bowls that were 3/5complete. We started 14,200 more bowls during the month. At the end of the month, we had1,000 bowls that were 4/5 complete. Assume DM are added at the begi

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 6PA: Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in...

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