Don’t Cry Over Spilled Milk,
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Don't Cry Over
Spilled Milk, Inc., a manufacturer of mops, uses the weighted average method in
its processing costing system. Don't Cry uses a traditional costing system in
the allocation of its manufacturing overhead (MOH) to production;
MOH costs are allocated to production on the basis of machine hours logged
during the period. Total estimated MOH for the period was $500,000 and total estimated
machine hours were 100,000. The following data concern the operations of the
company's first processing department, Assembly, for June 2012.
|
Beginning Work
in Process
|
800 mops, 60%
complete with respect to direct materials, 10% complete with respect to conversion
|
|
Costs in
Beginning Work in Process
|
$3,712 (of
this amount, $1,296 is for direct materials)
|
|
Units Started
in June
|
16,000 mops
|
|
Direct Product
Costs Added During June
|
direct
materials $47,076; direct labor $216,213
|
|
Ending Work in
Process
|
300 mops,
60% completed with respect to direct materials, 70% complete with respect to conversion
|
During June, 79,560 actual machine hours were logged
during production.
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