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please help! On January 1, Concord Company had 1,200 gallons of juice that were already 30% complete for conversion costs at that time. Conversion costs
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On January 1, Concord Company had 1,200 gallons of juice that were already 30% complete for conversion costs at that time. Conversion costs are added evenly throughout production, while two DM resources are added at different stages: flavoring. added at the beginning of the process, and packaging, added when units have received 95% of conversion costs. Throughout the year, Concord started another 68,200 gallons of juice. By year-end, 67,700 gallons had been completed, leaving 1,700 gallons still in WIP Inventory. These ending units were 80% complete for conversion costs so had not yet been packaged. (a) Assuming that Concord uses the FIFO method of process costing, use Step 1 of the template to determine its physical flow of units and identify degree of completion. Question 5 of 8 Verify Physical Units in Period and Identify Degree of Completion STEP 1 Question 5 of 8 \begin{tabular}{l} STEP 1 \\ \hline Physical Units \\ \hline \\ \hline \end{tabular} Step by Step Solution
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