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Fincher Farms uses process costing to account for the production of canned vegetables. Direct materials are added at the beginni of the process and conversion
Fincher Farms uses process costing to account for the production of canned vegetables. Direct materials are added at the beginni of the process and conversion costs are incurred uniformly throughout the process. Beginning work in process is percent complete; ending work in process is percent complete.
The following is an excerpt from the production report for Fincher Farms.
Assume the company uses WeightedAverage Method.
Required:
Find the missing amounts.
tableFINCHER FARMSProcess Costing Production Report WeightedAverage MethodFor the Month Ended January Current YeartablePhysicalUnitsUnits to be accounted forBeginning work in process,Started into productionTotal units,Equivalent UnitstablePhysicalUnitstableDirectMaterialstableConversionCostUnits accounted for,,,Completd and transferred,Ending work in process,,Total units,
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