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The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for May 2020 : For the
The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for May 2020 : For the data in Question 10, use the FIFO method to a. calculate cost per equivalent unit for direct materials and conversion costs b. assign costs to units completed (and transferred out) and to units in ending work-in-process inventory. In other words, calculate the costs of completed and transferred out and the costs of units in ending work-in-process inventory
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