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Japan SS Ltd manufactures premium knives on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs.
Japan SS Ltd manufactures premium knives on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Data for the Assembly Department for June 2021: ork-ln-Process, beginning Inventory: Direct Materials 100% complete Conversion Costs 50% complete Units Started during June ork-in-process, ending inventory: Direct materials (100% complete) Conversion costs (80% complete) Units started during June ork-in-process, ending inventory: Direct materials (100% complete) Conversion costs (80% complete) ork-in-process, beginning inventory: Direct materials costs added during June Conversion costs added during June Required: Costs for June 2021 : Direct materials 5260,000 Conversion costs $250,000 5657,800 Calculate the amount assigned to Ending Work in Process (WIP) and Finished Goods (FG) in the Assembly Department for June 2021. 250 units 800 units 150 units 800 units 150 units (1 5 Marks)
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