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    Production cost report

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    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

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    Solution Summary

    The solution explains how to prepare a production cost report and calculate the gross margin.