Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 Aug 2017 My Price 5.00

Scherff Inc

Scherff Inc. produces a product which goes through three processes - Process 1, Process 2, and Process 3. Process 1 is the Mixing Department; Process 2 is the Blending Department; and Process 3 is Pouring Department. The following information pertains to the Mixing Department to the units and costs for the month of October (% is the percentage completed):

 

Direct Materials Conversion

Beginning Inventory 1000 units, 50% 1000 units, 25%

$10,000 $20,000

 

Started this Period 20,000 units 20,000 units

$400,000 $1,600,000

 

Ending Inventory 2000 units, 75% 2000 units, 50%

 

Required:

1. Prepare a complete production report for the month of October using the FIFO technique.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

continued

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2. Prepare the journal entry transferring the goods to the Blending Department from the Mixing Department.

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 10:08 AM My Price 5.00

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