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Trendy Clothing Inc. is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department.
Trendy Clothing Inc. is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Trendy uses the weighted average method of process costing. The information for June 2018 is provided. (Click the icon to view the information.) Required 1. Calculate equivalent units (tonnes) of transferred-in costs, direct materials, and conversion costs. 2. Summarize total costs to account for and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. 3. Assign total costs to units completed (and transferred out) and to units in ending work in process. x Jount in each input cell.) June 2018 information Transferred in Direct Conversion Physical Units (tonnes) 75 Costs Materials Costs $ $ 0 $ 67,500 100% 30,000 60% 0% 140 Work in process, beginning inventory (June 1) Degree of completion, beginning work in process Transferred in during June Completed and transferred out during June Work in process, ending inventory (June 30) Degree of completion, ending work in process e Pro CC 2017 psts added during June 155 60 100% 0% 75% $ 155,000 $ 38,750 $ 79,050
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