Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Requested Review Problems ZMT Books is a publishing company with 2 processes, the printing and binding departments. After pages are printed in the printing department,
Requested Review Problems ZMT Books is a publishing company with 2 processes, the printing and binding departments. After pages are printed in the printing department, the printed pages are transferred to the binding department where the pages are bound into finished books. In the binding process, direct materials are added when the book is 80% complete and conversion costs are added uniformly throughout the process. The following information is for the binding department for the past month. Beginning works in process in the binding department consists of 900 books that are 40% complete with transferred in costs of $32,775 and conversion costs of $15,000. During the previous month the company transferred in 2,700 books into the binding process from the printing process with a cost of $144,000. At the end of the month there were 600 books that were 60% complete in the ending works in process for the binding department. During the month, the binding department incurred direct material costs of $26.700 and conversion costs of $69,000. How much cost is transferred out of the binding process? How much cost is left in ending works in process of the binding department
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started