Q2 (a) For December the Production Control Department of Faro Chemical, Inc. reported theseproduction data for Department 2 :Transferred in from Department 1Transferred out to Department 3In process at end of December(with 1/3 labor and factory overhead)55,000 liters39,500 liters10,500 litersAll materials were put into process in Department 1. The Cost Department collected these figures forDepartment 2:Unit cost for units transferred in from Department 1Labor costs, in Department 2Factory overhead appliedRequired: A cost of production report for Department 2 for December.$1.80$27,5201 5,480(b)What is equivalent production? Explain in terms of its effect on computed unit costs.(c) i)equivalent units are 3800 units and ending work in process equivalent units are 5000, then completeequivalent units in current period are how many?if the beginning work in process equivalent units are 2500 units, work done in current periodii) Classify these industries with respect to the type of cost accumulation proceduregenerally used-job order costing or process costing.а. Мeatk. Pianosb. SugarI. Linoleumc. Steelm. Leatherd. Breakfast cerealn. Nylonе. Раper boxeso. Baby foodsf. Wooden furniturep. Locomotivesg. Toys and noveltiesq. Office machines equipmenth. Coker. Luggageį, Cooking utensilss. Paintj. Casketst. Tires and tubes||

Name: Q2 (a) For December the Production Control Department of Faro Chemica
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Description: Q2 (a) For December the Production Control Department of Faro Chemical, Inc. reported theseproduction data for Department 2 :Transferred in from Department 1Transferred out to Department 3In process at end of December(with 1/3 labor and factory over

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Q2 (a) For December the Production Control Department of Faro Chemical, Inc. reported these production data for Department 2 : Transferred in from Department 1 Transferred out to Department 3 In process at end of December (with 1/3 labor and factory overhead) 55,000 liters 39,500 liters 10,500 liters All materials were put into process in Department 1. The Cost Department collected these figures for Department 2: Unit cost for units transferred in from Department 1 Labor costs, in Department 2 Factory overhead applied Required: A cost of production report for Department 2 for December. $1.80 $27,520 1 5,480

Q2 (a) For December the Production Control Department of Faro Chemical, Inc. reported these production data for Department 2 : Transferred in from Department 1 Transferred out to Department 3 In process at end of December (with 1/3 labor and factory overhead) 55,000 liters 39,500 liters 10,500 liters All materials were put into process in Department 1. The Cost Department collected these figures for Department 2: Unit cost for units transferred in from Department 1 Labor costs, in Department 2 Factory overhead applied Required: A cost of production report for Department 2 for December. $1.80 $27,520 1 5,480

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 7BE: In October, the cost of materials transferred into the Rolling Department from the Casting...

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