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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Use the following information for Brief Exercises 6-39 and 6-40:

Saludable Inc. produces a freeze-dried kale powder. Drying is the first department, and its output is measured in pounds. Saludable uses the FIFO method. All manufacturing costs are added uniformly. For November, the drying department provided the following information:

Chapter 6, Problem 40BEB, Use the following information for Brief Exercises 6-39 and 6-40: Saludable Inc. produces a

6-40 (Appendix 6A) FIFO; Production Report

Refer to the information for Saludable Inc. on the previous page.

Required:

Prepare a production report.

To determine

Make production report of Company SI.

Explanation

Production Report:

The document comprises all the activities of process department related to manufacturing which occurs; in a particular period of time is called production report. It helps to identify the efficiency of process department.

Prepare production report of company SI as shown below:

Company SI
Drying Department
Production Report for November Month
FIFO Method

Unit Information

Physical Flow:
Units to accounts for:Units(pounds)Units to accounted for:Units(pounds)
Units in BWIP6,000Unit started and completed28,500
Units started32,500From BWIP6000
  Units in EWIP4000
Total units to account for38,500Total units accounted for38,500
  
Equivalent Units 
Started and completed28,500
To complete BWIP (6,000 pounds ×30%)1,800
Units in EWIP (4,000 pounds×60%)2,400
Total equivalent units32,700
Cost Information
Cost to account for:(In$)
Cost in BWIP16,380
Cost added by department130,800
Total cost to account for:147,180
Cost per equivalent unit$4.00
  
Costs to account for:(In $)
Transferred out: 
Units started and completed (28,500 pounds×$4.00)114,000
Units in BWIP: 
From prior period16,380
From current period (1,800 pounds×$4

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