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The ledger of Cullumber Company has the following work in process inventory account: 5/1 5/31 5/31 Balance Direct materials Factory labour 5/31 Manufacturing overhead 5/31
The ledger of Cullumber Company has the following work in process inventory account: 5/1 5/31 5/31 Balance Direct materials Factory labour 5/31 Manufacturing overhead 5/31 Balance Work in Process Inventory-Painting $3,570 5,770 2,400 786 $? 5/31 Completed and transferred out $? Production records show that there were 390 units in the beginning inventory, 35% complete, 1,180 units started into production, and 1,180 units completed and transferred out. The beginning work in process inventory had materials costs of $2,080 and conversion costs of $1,490. The units in ending inventory were 40% complete as to conversion costs. Materials are entered at the beginning of the painting process, and conversion costs are incurred uniformly throughout the process.
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