The ledger of Hasgrove Company has the following work in process account. Production records show that there

Question:

The ledger of Hasgrove Company has the following work in process account.

Production records show that there were 800 units in the beginning inventory, 30% complete, 1,100 units started, and 1,500 units transferred out. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. Hasgrove uses the FIFO method to compute equivalent units.
Instructions
Answer the following questions.
(a) How many units are in process at March 31?
(b) What is the unit materials cost for March?
(c) What is the unit conversion cost for March?
(d) What is the total cost of units started in February and completed in March?
(e) What is the total cost of units started and finished in March?
(f) What is the cost of the March 31 inventory?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...