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The document outlines the manufacturing process of Octavia Corp., detailing the operations in the Molding, Curing, and Finishing departments. It provides specific data for the Curing Department for May 2020, including beginning and ending work-in-progress inventories and the number of units transferred from Molding. The assignment requires the preparation of cost of production reports using both FIFO and WA methods.

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53 views1 page

Assignment COST

The document outlines the manufacturing process of Octavia Corp., detailing the operations in the Molding, Curing, and Finishing departments. It provides specific data for the Curing Department for May 2020, including beginning and ending work-in-progress inventories and the number of units transferred from Molding. The assignment requires the preparation of cost of production reports using both FIFO and WA methods.

Uploaded by

euryodaretla
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Assignment:

Octavia Corp.’s products are manufactured in three separate departments: Molding, Curing, and Finishing.
Materials are introduced in Molding; additional material is added in Curing as follows: 50% at the beginning and 50% at the end. The
following information is available for the Curing Department for May 2020:
Beginning WIP Inventory (degree of completion: direct labor, 40%; overhead, 30%) 8,000 units
Transferred in from Molding 40,000 units
Ending WIP Inventory (degree of completion: direct labor, 50%; overhead, 40%) 4,000 units
Transferred to Finishing ? units

a. Prepare cost of production report using FIFO.


b. Prepare cost of production report using WA.

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