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Accounting Question: Open Image in a new tab for a clearer view The Polishing Department of Major Company has the following production and manufacturing cost

Accounting Question: Open Image in a new tab for a clearer view

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The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1, 860 units that are 100% complete as to materials and 30% complete as to conversion costs: units started during the period are 45, 100: ending inventory of 5,000 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of 521, 500 of materials and 570, 231 of conversion costs: materials costs added in Polishing during the month, exist202, 030: labor and overhead applied in Polishing during the month, 5127, 100 and exist257, 840, respectively. Compute the equivalent units of production for materials and conversion costs for the month of September. The equivalent units of production Compute the unit costs for materials and conversion costs for the month. Determine the costs to be assigned to the units transferred out and in process. Transferred out exist Ending work in process. exist

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