Question 3: Trendy Clothing Co. is a manufacturer of winter clothes. It has a knitting department and a finishing department. We are now focussing on the finishing department. Direct materials are added at the end of the process. The following information for September 2023 of the finishing department: Work in progress, beginning inventories (September 1) Degree of completion Transferred in during September Completed and transferred out during September Physical units (tons) Degree of completion, ending WIP Total costs added during September 60 100 120 Work in progress, ending inventory 40 (September 30) Transferred in Direct costs ($) $45,000 100% 100% $114,000 materials $0 0% 0% $27,000 Conversion costs ($) $24,000 50% 75% $62,400 Required: Calculate the unit cost of completed units, the value of transferred out and the closing balance of work in progress (WIP).

Question 3: Trendy Clothing Co. is a manufacturer of winter clothes. It has a knitting department and a finishing department. We are now focussing on the finishing department. Direct materials are added at the end of the process. The following information for September 2023 of the finishing department: Required: Calculate the unit cost of completed units, the value of transferred out and the closing balance of work in progress (WIP)