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Fashion Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department.
Fashion Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Fashion uses the weighted-average method of process costing. The following information for June 2014 is available. EE (Click the icon to view the information.) Requirements 1. Calculate equivalent units of transfemed-in costs, direct materials, and conversion costs. Summarize total costs to account for, and calculate the cost per equivalent unit for transferred costs, direct materials, and conversion cost 2. 3. Assign costs to units completed (and transferred out) and to units in ending work in process
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