My question is about transferred in costs, weighted average and FIFO: At the beginning of the work,
Question:
My question is about transferred in costs, weighted average and FIFO: At the beginning of the work, I have transferred in costs, 100%, Direct Materials, ?%, Conversions costs, 80%, the the end of the work I have transferred in costs, ?%, direct materials ?%, conversion costs 40%. How do i find out what these ? percentages are?
Here's the question from my book:
Frito-Lay Inc manufactures convenience foods, including potato chips and corn chips. Production of corn chips occurs in four departments: Cleaning, Mixing, Cooking and Drying and Packaging. Consider the Drying and Packaging dept, where direct materials is added at the end of the process. Conversion costs are added evenly during the process. Suppose the accounting records of a Frito lay plant provided the following information for week 37 for corn chips in its Drying and packaging dept.
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