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(solution) Cost Accounting


Hi, I needed this done asap, can you please let me know the cost and if you will be able to complete it by the deadline? Thanks! Ash Document Preview: Problem 1Prepare a schedule of equivalent units and a cost of production report for Century Corporation for April. There was zero beginning work in process; 4,200 units were started; and 4,000 units were completed and transferred out. The ending work in process was 100% complete for materials and 60% complete for labor and overhead. The costs incurred were $25,200 for materials; $20,600 for labor; and $16,480 for overhead. Problem 2Base you answer on the following data from Gold Star Products, Inc., for the month of January. The company uses the average cost method of accounting for beginning work in process.Gold Star Products, Inc., for the month of January Quantity Stage of Completion of EndingWork in Process Work in Process - Beginning 400 Materials complete Started in Production - Current Month 600 Labor 60% Transferred Out to Next Department 800 Overhead 60% Work in Process - Ending 190 Lost in Production Costs Work in Process - Beginning: Materials $9,968.00 Labor 2,224.80 Overhead 1,898.40 Total $14,091.20 Current Month: Materials $15,041.11 Labor 11,589.19 Overhead 9,895.25 Total $36,525.55 19. How many units were lost in production?20. The equivalent production for materials, labor, and overhead, respectively is:21. The unit costs of materials, labor, and overhead, respectively are: 22. The costs transferred to the next department total: 23. The cost of the labor in ending Work in Process is: Problem 3Base your answer on the data from Paxton, Inc. for March. Paxton uses the average costing method.Paxton, Inc. for March Quantity Costs Beginning Work in Process Current Month Work in Process—Beginning 24,000 Materials $50,000 $180,000 Started in Production—Current Month 176,000 Labor 11,460 110,780 Transferred Out to Finished Goods Overhead 3,820 40,110 Joint Product No. 1 100,000 Total $65,280 $330,890 Joint Product No. 2 70,000 Work in Process—Ending 30,000 Stage of Completion of ...

 


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