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EZ Set produces a quick setting concrete powder. Production of 15,000 tons was started in September, 14,000 tons were completed. Material costs were $394,670 for
EZ Set produces a quick setting concrete powder. Production of 15,000 tons was started in September, 14,000 tons were completed. Material costs were $394,670 for the month while conversion costs were $201,730. There was no beginning work in process; the ending work in process was 20% complete.
1. What is the total cost of the product that was completed and transferred to finished goods?
2. What is the value of the ending work in process?
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