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Sock & Rany produces paints. On July 1 it had no work in process inventory. It starts production of 112,000 gallons of paint in July
Sock & Rany produces paints. On July 1 it had no work in process inventory. It starts production of 112,000 gallons of paint in July and completes 89,000 gallons. The costs of the resources used by Sanchez in July consist of the following: Materials Conversion costs (labor and overhead) $207,815 284,800 Required: The production supervisor estimates that the ending work-in-process is 89 percent complete. Compute the cost of paint transferred to finished goods and the amount in work-in-process ending inventory as of July 31. (Do not round intermediate calculations.) Cost of paint transferred to finished goods Work in process ending inventory
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