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Ivanhoe Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data
Ivanhoe Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2022 are as follows. Percent Production Data-Basketballs Units Complete Work in process units, July 1 470 60 % Units started into production 1,140 Work in process units, July 31 500 40 % Cost Data-Basketballs Work in process, July 1 Materials $790 Conversion costs 640 $1,430 Direct materials 2,108 Direct labor 1,930 Manufacturing overhead 1,360 Calculate the following using the weighted-average method.
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