Question
Selzik Company makes super-premium cake mixes that go through two processing departmentsBlending and Packaging. The following activity was recorded in the Blending Department during July:
Selzik Company makes super-premium cake mixes that go through two processing departmentsBlending and Packaging. The following activity was recorded in the Blending Department during July:
| Production data: | |||
| Units in process, July 1 (materials 100% complete; conversion 30% complete) | 10,000 | ||
| Units started into production | 170,000 | ||
| Units in process, July 31 (materials 100% complete; conversion 40% complete) | 20,000 | ||
| Cost data: | |||
| Work in process inventory, July 1: | |||
| Materials cost | $ | 8,500 | |
| Conversion cost | $ | 4,900 | |
| Cost added during the month: | |||
| Materials cost | $ | 139,400 | |
| Conversion cost | $ | 244,200 | |
All materials are added at the beginning of work in the Blending Department. The company uses the FIFO method in its process costing system.
What is the cost of ending work in process inventory?
Materials __________
Conversion _________
Total ___________
Please show step by step. Thank you
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The Future Of Audit Keeping Capital Markets Efficient
Authors: Keith Houghton, Christine Jubb, Michael Kend, Juliana Ng
1st Edition
1921666501, 978-1921666506
