Demski Technologies specializes in making surgical instruments. The firm closely collaborates with a German company that provides
Question:
Demski began August with 500 instruments in work-in-process inventory. The 500 instruments were valued at $120,000, comprising $75,000 in materials plus $45,000 in conversion costs. During August, Demski started another 4,500 instruments into production, completing a total of 4,600 instruments by month’s end. Demski estimates that the units still in process on August 31 are 40% complete with respect to conversion costs. Finally, Demski spent $685,000 on materials costs, $1,335,400 on conversion costs, and $828,000 on testing costs during August.
Required:
Prepare Demski’s process-costing report for August.
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Related Book For
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
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