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please answer!! Gagne Chemicals manufactures industrial solvents. On November 1, it has no work- in-process inventory. It starts production of 13,000 barrels of solvent in
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Gagne Chemicals manufactures industrial solvents. On November 1, it has no work- in-process inventory. It starts production of 13,000 barrels of solvent in November and completes 8,000 barrels. The costs of the resources used by Gagne in November consist of the following: materials, $200,000; conversion costs (labor and overhead), $300,000; so total, $500,000. The production supervisor estimates that the ending work in process is 40 percent complete, both with respect to materials and conversion. The cost of solvent transferred to finished goods is...; and the amount of cost in work-in-process ending inventory as of November 30 is. All materials and conversion are incurred evenly throughout the process Step by Step Solution
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