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ruskin ruskin
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6 years ago
Surf Products Company uses an automated process to clean and polish its souvenir items. Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process. The following data pertain to March.

Beginning work-in-process inventory   6,000 items, 1/3 complete as to conversion costs
Units placed in production    24,000 units
Units completed    18,000 units
Ending work-in-process inventory   12,000 items, 1/2 complete as to conversion costs
Cost of beginning work-in-process   $5,000
Direct material costs, current month   $18,000
Conversion costs, current month   $15,400

Required:
Using the first-in, first-out method determine the assignment of costs to units transferred-out and ending inventory.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
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pachopacho
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6 years ago
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ruskin Author
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6 years ago
this is exactly what I needed
zsc999
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Yesterday
Correct Slight Smile TY
Chaldoren
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2 hours ago
Thanks
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