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    joanboatright's Avatar
    joanboatright Posts: 3, Reputation: 1
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    #1

    Apr 27, 2010, 06:07 PM
    I have a problem similar to the example above
    Data for oceanic company for the month of June 2001 are as follows
    Beginning work in process inventory:
    Units 800
    Direct materials-100% complete
    Conversiton costs-70% complete
    Direct material costs-2860
    Conversion costs-2150
    ENDING WORK IN PROCESS INVENTORY
    Unit-1500
    Direct material-100% complete
    Conversion cost-30% complete
    OERATION FOR THE MONTH OF JUNE
    Units started-14,000
    Direct material costs-57,400
    Conversion costs-50,122

    b. Identifly the amount that should be transferred out of the Work in Process Inventory account, and state where those dollars should be transferred.
    joanboatright's Avatar
    joanboatright Posts: 3, Reputation: 1
    New Member
    		  
    #2

    Apr 27, 2010, 06:08 PM

    I do not understand how to do a process cost report can you show me how?
    joanboatright's Avatar
    joanboatright Posts: 3, Reputation: 1
    New Member
    		  
    #3

    Apr 27, 2010, 06:11 PM
    How do you prepare a process cost report??
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #4

    Apr 28, 2010, 11:35 PM

    People are not monitoring this site 24/7 and you cannot expect an answer in two minutes. People here are volunteering around lives. (I, for instance, have hardly been on here for the past three weeks.)

    I can give you a link to process costing. If you have questions, please ask specific questions, or you can post your attempts at trying to do it. It would be nearly impossible in a forum situation like this to explain an entire cost report including all the equivalent unit stuff, etc. That's longer, complicated stuff.
    Principles of Accounting Chapter 20
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