Question
Production data: Pounds in process, May 1: materials 100% complete; conversion 90% complete 82,000 Pounds started into production during May 470,000 Pounds completed and transferred
| Production data: | ||
| Pounds in process, May 1: materials 100% complete; conversion 90% complete | 82,000 | |
| Pounds started into production during May | 470,000 | |
| Pounds completed and transferred to the next department | ? | |
| Pounds in process, May 31: materials 70% complete; conversion 30% complete | 42,000 | |
| Cost data: | ||
| Work in process inventory, May 1: | ||
| Materials cost | $ | 152,300 |
| Conversion cost | $ | 52,300 |
| Cost added during May: | ||
| Materials cost | $ | 791,650 |
| Conversion cost | $ | 287,390 |
| Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Round your intermediate calculation to 2 decimal places and final answers to the nearest whole dollar amount.) | |
| 4. | Prepare a cost reconciliation report for the month. (Round your intermediate calculation to 2 decimal places and final answers to the nearest whole dollar amount.) |
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
12th edition
1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411
