(SOLVED)- The following relate to the Coating Department of Fantastic Plastics


Question Description:

$20

The following relate to the Coating Department of Fantastic Plastics Ltd for July:
Additional information:
■ Direct material is added at the beginning of the production process, and conversion occurs uniformly throughout the process.
■ Fantastic Plastics uses FIFO process costing.
■ 1 July work in process was 30 per cent complete as to conversion.
■ 31 July work in process was 40 per cent complete as to conversion.
Required:
Calculate the missing amounts (marked 7) and prepare the July production report for the Coating Department.

Answer

$20