Question
Blossom Inc. manufactures a single product in a continuous processing environment. All materials are added at the beginning of the process, and conversion costs
Blossom Inc. manufactures a single product in a continuous processing environment. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. To assign costs to inventories, the company uses weighted-average process costing The following information was available for 2022: Sales (selling price per unit, $42) $5,271,000 Actual manufacturing overhead 811.800 Selling and administrative expenses 403,440 Unit production costs: Direct materials (1 kilogram) $6.00 Direct labour (1/2 hour) 8.00 Manufacturing overhead 9.00 Total $23.00 Units completed and transferred to finished goods Materials purchased Materials used in process 172,200 units 153,750 kilograms 167.280 kilograms An inventory count at year end (December 31.20221 revealed that the inventories had the following balances: Raw materials Work in process inventory (45% completel Finished goods 9.840 kilograms 27,060 units 55,350 units The January 1, 2022, work in process inventory units are 70% complete. The unit cost of production was the same in 2022 as it was in 2021 Calculate the following amounts for Blossom inc
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