A) Process Costing; The Apple Company makes orange juice. Each gallon of orange juice takes 1lbs of oranges and significant processing The oranges are added at the beginning of the process. At the end of January 2023, Apple had the following: \table[[Work in process:, 10,000 lbs of oranges (cost $3 per pound)], [, $60,000 of conversion costs (1/2 done)]] During February Apple purchased 100,000 lbs of oranges paying $300,000 and all of these were put into the production process During February Apple spent $244500 on conversion costs and produced 90000 gallons of apple juice The apples in the refinery 3 were done with respect to conversion REQUIRED: DETERMNE THE VALUE OF February work in process and finished goods. Rart 2: The Frankenstein

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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A) Process Costing; The Apple Company makes orange juice. Each gallon of orange juice takes 1lbs of oranges and significant processing The oranges are
added at the beginning of the process. At the end of January 2023, Apple had the following: \table[[Work in process:, 10, 000 lbs of oranges (cost $3 per
pound)], [,$60,000 of conversion costs (1/2 done)]] During February Apple purchased 100,000 lbs of oranges paying $300,000 and all of these were put
into the production process During February Apple spent $244500 on conversion costs and produced 90000 gallons of apple juice The apples in the refinery
3
were done with respect to conversion REQUIRED: DETERMNE THE VALUE OF February work in process and finished goods. Rart 2: The Frankenstein
4
Transcribed Image Text:A) Process Costing; The Apple Company makes orange juice. Each gallon of orange juice takes 1lbs of oranges and significant processing The oranges are added at the beginning of the process. At the end of January 2023, Apple had the following: \table[[Work in process:, 10, 000 lbs of oranges (cost $3 per pound)], [,$60,000 of conversion costs (1/2 done)]] During February Apple purchased 100,000 lbs of oranges paying $300,000 and all of these were put into the production process During February Apple spent $244500 on conversion costs and produced 90000 gallons of apple juice The apples in the refinery 3 were done with respect to conversion REQUIRED: DETERMNE THE VALUE OF February work in process and finished goods. Rart 2: The Frankenstein 4
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