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Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402 Exercise 34
Cost Information
During October, McCourt Associates incurred total production costs of $60,000 for copyediting manuscripts and had the following equivalent units schedule:
Required:
1. Calculate the cost of copyediting one manuscript for October.
2. Assign costs to manuscripts completed and to EWIP and then do a cost reconciliation.
3. What if the costs assigned to units completed and EWIP total were calculated using a unit cost of $225? What is the discrepancy between the costs assigned and the costs to account for? What could have caused an incorrect unit cost?
During October, McCourt Associates incurred total production costs of $60,000 for copyediting manuscripts and had the following equivalent units schedule:
Required:
1. Calculate the cost of copyediting one manuscript for October.
2. Assign costs to manuscripts completed and to EWIP and then do a cost reconciliation.
3. What if the costs assigned to units completed and EWIP total were calculated using a unit cost of $225? What is the discrepancy between the costs assigned and the costs to account for? What could have caused an incorrect unit cost?
Explanation
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McCourt associates incurred total produc...
Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
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