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Process Costing for the following: The Franklin Company adds direct materials at the beginning of the manufacturing process. On July 1 , 3 , 0

Process Costing for the following:
The Franklin Company adds direct materials at the beginning of the manufacturing process. On July 1,
3,000 units were in process. All direct materials had been added and they were 40% complete as far as
conversion costs. The cost of the beginning inventory consisted of direct materials of $7,600 and
conversion costs of $2,545. During July 17,000 units were added at a material cost of $20,400.
Conversion costs were $32,490. On July 31 there were 2,500 units in the ending inventory. All direct
materials were added and they were 70% complete for conversion costs.

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