Bostwick Chemicals started business on April 1. The following operations data are available for April for the one solve it produces. Beginning inventory Started in April Ending work-in-process inventory (75% complete) Costs incurred in April follow. Materials $ 424,500 Gallons 0 359,000 44,500
Bostwick Chemicals started business on April 1. The following operations data are available for April for the one solve it produces. Beginning inventory Started in April Ending work-in-process inventory (75% complete) Costs incurred in April follow. Materials $ 424,500 Gallons 0 359,000 44,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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am. 59.

Transcribed Image Text:Bostwick Chemicals started business on April 1. The following operations data are available for April for the one solvent
it produces.
Beginning inventory
Started in April
Ending work-in-process inventory (75%
complete)
Costs incurred in April follow.
Materials
Labor
$
424,500
461,950
365,900
Gallons
0
a. Cost of goods sold for April
b. Work-in-process inventory on
April 30
359,000
44,500
Manufacturing
overhead
There are never any finished goods at Bostwick Chemicals because all production is to order.
Required:
a. Compute cost of goods sold for April.
b. What is the value of work-in-process inventory on April 30?

Transcribed Image Text:Piper Recreational Vehicles (PRV) modifies vans into recreational vehicles. PRV offers two models,
the XC-2 and XC-6, which differ in the quality of the basic van and the workmanship and
machining detail that are used. The following data reflect expected operations for the next year.
Required: Piper Recreational Vehicles uses operations costing and assigns conversion costs based
on the number of units assembled. Compute the expected cost of each model assembled next
year.
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