Following is information about the assembly department of a company: 1. 2. 3. 4. 5. There were 191,300 units in work in process inventory on August 1. With respect to units transferred in, 100% were complete and costs incurred amounted to $144,900. With respect to conversion, 70% of the units were complete and costs incurred amounted to $53,800. 510,500 units were transferred in from the cutting department during August. 580,600 units were completed during August and transferred to the finished goods inventory. During August, costs incurred were as follows: $486,720 for units transferred in from cutting, $481,898 for direct materials used, and $142,196 for conversion costs. There are 121,200 units in work in process inventory on August 31. With respect to the units transferred in, 100% are complete and 60% are complete with respect to conversion.

Following is information about the assembly department of a company: 1. 2. 3. 4. 5. There were 191,300 units in work in process inventory on August 1. With respect to units transferred in, 100% were complete and costs incurred amounted to $144,900. With respect to conversion, 70% of the units were complete and costs incurred amounted to $53,800. 510,500 units were transferred in from the cutting department during August. 580,600 units were completed during August and transferred to the finished goods inventory. During August, costs incurred were as follows: $486,720 for units transferred in from cutting, $481,898 for direct materials used, and $142,196 for conversion costs. There are 121,200 units in work in process inventory on August 31. With respect to the units transferred in, 100% are complete and 60% are complete with respect to conversion.

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Description: Following is information about the assembly department of a company:1.2.3.4.5.There were 191,300 units in work in process inventory on August 1. With respect to units transferred in,100% were complete and costs incurred amounted to $144,900. With re

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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