Ask Experts Questions for FREE Help !
Ask
    jivitah's Avatar
    jivitah Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Sep 9, 2007, 11:32 PM
    Production report_transfered in cost-FIFO
    There are 2department,frames and string department.. 6000 frames transferred to the string depart.. we are using process costinng here.

    Beginning WIP, oct is* 1000 unit $17100(prior depart cost)~~~~~ $10600(material cost)~~~~ $10420conversiionn cost
    Transferd-in drg oct 6000unit
    Fromframes depart
    Ending WIP, oct ** 2700unit
    Cost added drg oct $53200(prior depart cost)~~~ $12500(material cost)~~~ $16475(conversion cost)

    *degree of completion:transfered in cost,100% ;dir material 60% and conversion cost,75%
    **degr of complt: tranfered in cost, %, dirct material: 80% and conv cost is 45%

    I need to do production report using FIFO METHOD.. I don't no how to work out the transferred in cost fir the ending wip(degree of completion)
    IF SOMEONE CAN HELP WITH THIS PLZZZZ?
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
    Uber Member
    		  
    #2

    Sep 10, 2007, 03:25 AM
    You might want to read the announcement on the following link first.

    https://www.askmehelpdesk.com/math-s...board-b-u.html
    jivitah's Avatar
    jivitah Posts: 3, Reputation: 1
    New Member
    		  
    #3

    Sep 10, 2007, 08:11 AM
    I know and had read it.. I only want to know how to calculate the transferred in cost for ending WIP.as it in question... I don't no how to explain in single information.. I also don't no which information required to answer the transferred in cost. So that's why I put all the information. So anyone?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Unit cost of production [ 3 Answers ]

If cost of goods manufactured was $202,500 & 45,000 were produced, what is the unit cost of production?

Production Cost Report [ 0 Answers ]

I'm totally confused with this. Here is the problem. Elway Footballs, INC. uses a process cost accounting system. The following operating and cost data pertain to the first process department for October: October 1, Inventory (beg. WIP) 30,000 units, 100% completed for materials and 50%...

View more questions Search