[Nayyara]

Hi.
Can anyone help me.. I can't solve this assignemnt :confused: help me .u can see the attached file


The following information was taken from the books and records Abc Manufacturing for the year ended 31st December, 2006.


--------------------------Units------Cost ($.)
Sales during the year 8,000 ?
Opening Inventories:
Work in process - -
Finished goods 1,800 ?
Closing Inventories:
Work in process 100 ?
Finished goods 2,000 ?
Manufacturing Cost:
Direct Material 30,000
Direct Labor 20,000
Factory Overhead 16,000


The foreman has submitted the following cost estimate for the closing work in process Inventory:

Direct material cost $ 2,700
Direct Labor cost $ 1,000

The company’s past experience showed that factory overhead cost tends to fluctuate closely in proportion to direct labor cost.

Required:

1. Determine the number of units that were manufactured during the year (1.5)
2. complete the foreman’s estimate of the cost of work in process (1.5)
3. Prepare a manufacturing statement for the year (3.5)
4. Determine the cost of each unit manufactured during the year (1.5)
5. Assume that the first cost recorded in the Finished goods account is the first costs to be credited to the account. Determine the ending Inventory of Finished goods and the Cost of Goods Sold. (2)

[78]

Taguchi Manufacturing Co. uses the process cost system. The following information for the month of December was obtained from the company's book and from the production reports submitted by the department heads:
Production Report &nbs p; Mixing Blending Bottling
Units in process, beginning of period &nbs p; 2,500 1,500 3,000
Started in process during the month 12,500
Received from prior department &nb sp; 13,000 10,000
Finished and transferred &nb sp; 13,000 10,000 11,000
Finished and on hand 500
Units in process, end of period 2,000 4,000 2,000
Stage of completion &n bsp; ¼ 4/5 ½
Production Costs
Work in process, beginning of period:
Cost in Mixing... &n bsp; $3,075 $6150
Materials... $1470
Labor... 650
Factory overhead... 565
Cost in Blending... 3,660
Materials... &n bsp; 240
Labor... &nb sp; 905
Factory overhead... & nbsp; 750
Cost in Bottling
Materials... &nbs p; 900
Labor... &n bsp; 3,100
Factory overhead... &n bsp; 3,080
Cost incurred during the month:
Materials... 15,000 2,500 1,500
Labor... 4,750 &nb sp; 8,000 6,500
Factory overhead... 5,240 & nbsp; 6,100 7,000
TOTAL... $27,675 $21,570 $31,890
Required:
1. Prepare Costs of production summaries for the mixing, blending, and Bottling departments.
2. Prepare a departmental cost work sheet.
3. Draft the journal entries required to record the month's operations.
4. Prepare a statement of cost of goods manufactured for December.

[morgaine300]

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