Answered step by step
Verified Expert Solution
Question
1 Approved Answer
BOG Company has the following information pertains to one of its manufacturing departments for October Percent Completed Units Materials Conversion Work in process, beginning 40,000
BOG Company has the following information pertains to one of its manufacturing departments for October | ||||||
Percent Completed | ||||||
Units | Materials | Conversion | ||||
Work in process, beginning | 40,000 | 35% | 45% | |||
Started into production | 250,000 | |||||
Completed and transferred out | 240,000 | |||||
Work in process, ending | 50,000 | 80% | 75% | |||
Cost | Materials | Conversion | ||||
Work in process, beginning cost | $ 35,500 | $ 44,800 | ||||
Cost added during June | $ 433,000 | $ 325,000 | ||||
The company uses the FIFO costing method. | ||||||
Required: what is the total Material cost for units transferred out | ||||||
Round your answer to the nearest dollar |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started