Fundamental managerial accounting concepts. Fifth Edition. Edmonds.
Process costing system.
(Please see data attached).
a. Prepare a cost of production report for the compression department
b. Prepare a cost of production report for the finishing department
c. If 20,000 units are sold in June for $210,000 determine the company's gross margin
The solution explains how to prepare a production cost report and calculate the gross margin.