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ane Industries manufactures plastic toys. During October, Jane's Fabrication Department started work on 10,800 models. During the month, the company completed 11,700 models, and transferred
ane Industries manufactures plastic toys. During October, Jane's Fabrication Department started work on 10,800 models. During the month, the company completed 11,700 models, and transferred them to the Distribution Department. The company ended the month with 2,600 models in ending inventory. There were 3,500 models in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is being followed. Beginning work in process was 25% complete as to conversion costs, while ending work in process was 55% complete as to conversion costs. Beginning inventory: Direct materials $19,600 Conversion costs $11,200 Manufacturing costs added during the accounting period: Direct materials $70,600 Conversion costs $240,500 What is the cost assigned to ending inventory during October? (Round intermediary calculations to the nearest cent.) Select one: a. $41,138 b. $53,444 c. $45,061 d. $57,898
ane Industries manufactures plastic toys. During October, Jane's Fabrication Department started work on 10,800 models. During the month, the company completed 11,700 models, and transferred them to the Distribution Department. The company ended the month with 2,600 models in ending inventory. There were 3,500 models in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is being followed. Beginning work in process was 25% complete as to conversion costs, while ending work in process was 55% complete as to conversion costs.
Beginning inventory:
Direct materials $19,600
Conversion costs $11,200
Manufacturing costs added during the accounting period:
Direct materials $70,600
Conversion costs $240,500
What is the cost assigned to ending inventory during October? (Round intermediary calculations to the nearest cent.)
Select one:
a. $41,138
b. $53,444
c. $45,061
d. $57,898
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