Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The general ledger of Oates Company has the following work in process account. Work in Process-Finishing 6/1 Balance 8,000 Transferred out ? 6/30 Materials 1,800

The general ledger of Oates Company has the following work in process account.
Work in Process-Finishing
6/1 Balance 8,000 Transferred out ?
6/30 Materials 1,800
6/30 Labor 3,800
6/30 Overhead 2,800
6/30 Balance ?
Production records show that there were 2,000 units in the beginning inventory, 50% complete, 8,000 units started, and 4,500 units transferred out. The beginning work in process had conversion costs of $3,150. The units in ending inventory were 60% complete. Materials are added at the beginning of the process.
(A) How many units are in process at June 30?
(B) What is the unit conversion cost for June?
(C) What is the conversion cost in the June 30th inventory??

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

8. What are the benefits of branding? (LO5)

Answered: 1 week ago

Question

kingdom plantae where did they evolve

Answered: 1 week ago