Question
The ledger of American Company has the following work in process account. Work in ProcessPainting 5/1 Balance 3,790 5/31 Transferred out ? 5/31 Materials 5,720
The ledger of American Company has the following work in process account.
| Work in ProcessPainting | |||||
| 5/1 | Balance | 3,790 | 5/31 | Transferred out | ? |
| 5/31 | Materials | 5,720 | |||
| 5/31 | Labor | 2,830 | |||
| 5/31 | Overhead | 2,380 | |||
| 5/31 | Balance | ? |
Production records show that there were470units in the beginning inventory, 30% complete,1,610units started, and1,410units transferred out. The beginning work in process had materials cost of $3,140and conversion costs of $650. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
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Management Research Methods
Authors: Phyllis Tharenou, Ross Donohue, Brian Cooper
1st Edition
0521694280, 9780521694285
