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Drop Down Options: Required information [The following information applies to the questions displayed below.] Dengo Co. manufactures a single product in one department. Direct labor
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Required information [The following information applies to the questions displayed below.] Dengo Co. manufactures a single product in one department. Direct labor and overhead are added evenly throughout the process, while direct materlals are added at the beginning of the process. The company uses the FIFO method of process costing. Durling October, the company completed and transferred 23,200 unlts to finished goods Inventory. Of the units completed, 3,500 were from beginning inventory and the remalning 19,700 were started and completed during the month. Beginning goods in process were 100% complete with respect to direct materlals and 30% complete with respect to direct labor and overhead. The company has 2,900 unlts (100\% complete with respect to direct materlals and 70% complete with respect to direct labor and overhead) in process at month-end. Information on costs of beginning Inventory and costs added during the month follows. Required: 1. Prepare the company's process cost summary for October using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Costs of beginning goods in process Costs incurred this period Raw material purchases Cost of goods manufacturedStep by Step Solution
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