Please use following information for the next four questions. Lenovo Company manufactures laptops. Its costing system...
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Please use following information for the next four questions. Lenovo Company manufactures laptops. Its costing system uses two cost categories: direct materials and conversion costs. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Units for June: Work in process, beginning inventory Note that the units completed is not 370 units Direct materials (100% complete) Conversion costs (60% complete) given to you directly. 970 units 250 units Units started during June Work in process, ending inventory: Direct materials (100% complete) Conversion costs (80% complete) Costs for June: Work in process, beginning inventory: Direct materials $150,000 Conversion costs $137,000 Direct materials costs added during June $533,400 Conversion costs added during June $404,800 Please use following information for the next four questions. Lenovo Company manufactures laptops. Its costing system uses two cost categories: direct materials and conversion costs. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Units for June: Work in process, beginning inventory Note that the units completed is not 370 units Direct materials (100% complete) Conversion costs (60% complete) given to you directly. 970 units 250 units Units started during June Work in process, ending inventory: Direct materials (100% complete) Conversion costs (80% complete) Costs for June: Work in process, beginning inventory: Direct materials $150,000 Conversion costs $137,000 Direct materials costs added during June $533,400 Conversion costs added during June $404,800
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