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Can you please show your work, thank you! Patton Dyes manufactures colorings, primarily for textiles. Information on the work in process follows: - Beginning inventory,
Can you please show your work, thank you!
Patton Dyes manufactures colorings, primarily for textiles. Information on the work in process follows: - Beginning inventory, 130,000 partially complete liters: - Ending inventory, 100,000 liters; units are 25 percent complete with respect to materials and 60 percent complete with respect to conversion costs. - Started this month, 693,000 liters. Assume that beginning inventory is 20 percent complete with respect to materials and 40 percent complete with respect to conversion costs. Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Kronk, Incorporated provides the following information concerning the work in process at its plant: - Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete). - Started this month, 68,500 units. - Transferred out, 65,500 units. - Ending inventory, 32,750 units (materials are 100 percent complete: conversion costs are 60 percent complete). Required: a. Compute the equivalent units for materials using the weighted-average method. b. Compute the equivalent units for conversion costs using the weighted-average method Step by Step Solution
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