Requested: a. Prepare information to determine how much the cost of finished products is transferred to the warehouse and the cost of goods in process which at the end of the month have not yet been produced. b. Make a journal, so that the ledger can show the Cost of Production (COGS) for Finished Goods (FG) and Work in Process (WIP). Note: Write down a clear way of working, or the excel formula
Requested: a. Prepare information to determine how much the cost of finished products is transferred to the warehouse and the cost of goods in process which at the end of the month have not yet been produced. b. Make a journal, so that the ledger can show the Cost of Production (COGS) for Finished Goods (FG) and Work in Process (WIP). Note: Write down a clear way of working, or the excel formula
Chapter5: Process Costing
Section: Chapter Questions
Problem 8EB: A production department within a company received materials of $7,000 and conversion costs of $5,000...
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Requested:
a. Prepare information to determine how much the cost of finished products is transferred to the warehouse and the cost of goods in process which at the end of the month have not yet been produced.
b. Make a journal, so that the ledger can show the Cost of Production (COGS) for Finished Goods (FG) and Work in Process (WIP).
Note: Write down a clear way of working, or the excel formula
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