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A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of July, there was no beginning work in process inventory; 41000 units were completed and transferred out; and there were 23000 units in the ending work in process inventory that were 40% complete as to conversion costs. During July, $153600 materials costs and $105210 conversion costs were charged to the department. The unit production costs for materials and conversion costs for July was Materials Conversion Costs $2.40 $1.64 O $3.75 $2.57 $3.06 $1.64 O $2.40 $2.10 ΟΣ

A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of July, there was no beginning work in process inventory; 41000 units were completed and transferred out; and there were 23000 units in the ending work in process inventory that were 40% complete as to conversion costs. During July, $153600 materials costs and $105210 conversion costs were charged to the department. The unit production costs for materials and conversion costs for July was Materials Conversion Costs $2.40 $1.64 O $3.75 $2.57 $3.06 $1.64 O $2.40 $2.10 ΟΣ

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of July, there was no beginning work in process inventory; 41000 units were completed and transferred out; and there were 23000 units in the ending work in process inventory that were 40% complete as to conversion costs. During July, $153600 materials costs and $105210 conversion costs were charged to the department. The unit production costs for materials and conversion costs for July was Materials Conversion Costs $2.40 $1.64 O $3.75 $2.57 $3.06 $1.64 O $2.40 $2.10 ΟΣ
Transcribed Image Text:A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of July, there was no beginning work in process inventory; 41000 units were completed and transferred out; and there were 23000 units in the ending work in process inventory that were 40% complete as to conversion costs. During July, $153600 materials costs and $105210 conversion costs were charged to the department. The unit production costs for materials and conversion costs for July was Materials Conversion Costs $2.40 $1.64 O $3.75 $2.57 $3.06 $1.64 O $2.40 $2.10 ΟΣ
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