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#3 Joplin Corporation produces syrups that it sells to candy makers. On November 1, it had no work-in- process inventory. It started production of 39,000
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Joplin Corporation produces syrups that it sells to candy makers. On November 1, it had no work-in- process inventory. It started production of 39,000 gallons of syrup in November and completed production of 37,000 gallons. The costs of the resources used by Joplin in November consist of the following: Materials Conversion costs (labor and overhead) $ 30,580 53,900 Required: The production supervisor estimates that the ending work-in-process is 70 percent complete on November 30. Compute the cost of syrup completed and the cost of the syrup in work-in-process ending inventory as of November 30. (Do not round intermediate calculations.) Cost of syrup completed Work-in-process ending inventoryStep by Step Solution
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