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Part 3 The following information is available for Hocking Company for March 20X8. All materials are added at the start of production. Cost Beginning WIP Started Normal spoilage Abnormal spoilage Ending WIP Transferred out 8,000 units (80% complete) 35,000 units 6,000 units 2,500 units 15,000 units (55% complete) 19,500 units Required: Prepare a cost of production report for March using FIFO, DM $14,000 50,000 CC $45,000 175,000

Part 3 The following information is available for Hocking Company for March 20X8. All materials are added at the start of production. Cost Beginning WIP Started Normal spoilage Abnormal spoilage Ending WIP Transferred out 8,000 units (80% complete) 35,000 units 6,000 units 2,500 units 15,000 units (55% complete) 19,500 units Required: Prepare a cost of production report for March using FIFO, DM $14,000 50,000 CC $45,000 175,000

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter6: Process Costing
Section: Chapter Questions
Problem 7MCQ: Use the following information for Multiple-Choice Questions 6-7 through 6-9: The mixing department...
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Part 3 The following information is available for Hocking Company for March 20X8. All materials are added at the start of production. Cost Beginning WIP Started Normal spoilage Abnormal spoilage Ending WIP Transferred out 8,000 units (80% complete) 35,000 units 6,000 units 2,500 units 15,000 units (55% complete) 19,500 units Required: Prepare a cost of production report for March using FIFO. DM $14,000 50,000 CC $45,000 175,000
Transcribed Image Text:Part 3 The following information is available for Hocking Company for March 20X8. All materials are added at the start of production. Cost Beginning WIP Started Normal spoilage Abnormal spoilage Ending WIP Transferred out 8,000 units (80% complete) 35,000 units 6,000 units 2,500 units 15,000 units (55% complete) 19,500 units Required: Prepare a cost of production report for March using FIFO. DM $14,000 50,000 CC $45,000 175,000
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