Chapter 28 – Process Cost Accounting
53. During the month, 2,700 units of a product were completed and 800 units were 60%
complete with respect to labor and still in process. The total equivalent units of production for
labor for the month is
54. The two sections of the cost of production report are
Chapter 28 – Process Cost Accounting
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The Vinh Corporation has two producing departments. Cost data from the firm’s records for
the month of January 2013 is given below. There were no beginning inventories.
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71. In Gerth Manufacturing, production is started in the fabricating department. The work is
then transferred to the finishing department where goods are completed and then transferred
to the finished goods storeroom. Data about the company’s costs during February 2013 are
given below.
During the month, products costing $45,000 were transferred from the fabricating department
to the finishing department; goods costing $56,000 were transferred from the finishing
department to finished goods inventory; and goods that cost $63,000 were sold on account for
$79,000. Record the following events on page 3 of a general journal. Use February 28 as the
date. Omit descriptions.
(a.) Place materials into production
(b.) Charge labor costs into production
(c.) Charge overhead costs into production
(d.) Transfer product from fabricating department to finishing department
(e.) Transfer finished goods from finishing department to finished goods inventory
(f.) Sale of goods
(g.) Record cost of goods sold
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Chapter 28 – Process Cost Accounting
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Cost data for a firm’s first department, Dept. A, for June 2013 is given below.
