A company produces a product. All necessary raw materials have been permitted at the beginning of the production process. Similarly, conversion costs occur during the

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A company produces a product. All necessary raw materials have been permitted at the beginning of the production process. Similarly, conversion costs occur during the production process. In July an evaluation of the work in process account was obtained with the information obtained as follows:

In debit position:

Initial balance in July: 500 units, with a 40% settlement rate and a fee of Rp. 45,000,000

Production begins: 1,500 units

Costs raw materials: Rp. 80,000,000,

July conversion costs: Rp. 50,000,000

On credit position:

Product successfully completed 1200 units

*For additional information from supporting documents it is known that raw material costs Rp.35,000,000 and conversion fee Rp.10,000,000.-

At the end of the period, it is known that the goods in the process at the end of the period are 80% completion rate.

Requested:

1. Calculate the number of units including the cost of goods in the process at the end of July

2. Calculate the cost of the product successfully completed during July and made the necessary journal entries to record the finished product

3. Give your comments!