Question
Ivanhoe Inc tures a single product in a continuous processing environment. All materials are added at the beginning of the process, and consien costs
Ivanhoe Inc tures a single product in a continuous processing environment. All materials are added at the beginning of the process, and consien costs are incurred uniformly throughout the process. To assign costs to inventories, the company uses weighted-average process costing The following information was available for 2022 Sales (selling priceperunt $44) $5.161.200 Actual manufacturing overhead 759.000 Seling and adesive expenses 377,200 Unit production casts Direct materials logrand $7.00 Direct labour (1/2 hour 900 Manufacturing overhead 1000 ural $26.00 Units plated and transferred to finished goods Material purchased Materials used 161000 141750 grams 156400m Aistory count at ward (December 31 2022) revealed that the inventories had the following balances
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