From the following data, determine the total Cost of Goods Manufactured (COGM): Costs of units in beginning Work-in-Progress (WIP) Inventory Costs added to units in beginning WIP Inventory this period Costs of units started and completed Cost of units started and incomplete Cost of units in ending WIP inventory $84000.00 19000.00 152000.00 62500.00 62500.00
From the following data, determine the total Cost of Goods Manufactured (COGM): Costs of units in beginning Work-in-Progress (WIP) Inventory Costs added to units in beginning WIP Inventory this period Costs of units started and completed Cost of units started and incomplete Cost of units in ending WIP inventory $84000.00 19000.00 152000.00 62500.00 62500.00
Chapter1: Financial Statements And Business Decisions
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![From the following data, determine the total Cost of Goods Manufactured (COGM):
Costs of units in beginning Work-in-Progress (WIP) Inventory
Costs added to units in beginning WIP Inventory this period
Costs of units started and completed
Cost of units started and incomplete
Cost of units in ending WIP inventory
$84000.00
19000.00
152000.00
62500.00
62500.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fecb3ccf8-64a3-4f42-90b5-c9c7edf16923%2Fd495218e-949b-4a44-b028-0be718e422fa%2Fv1cx89m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:From the following data, determine the total Cost of Goods Manufactured (COGM):
Costs of units in beginning Work-in-Progress (WIP) Inventory
Costs added to units in beginning WIP Inventory this period
Costs of units started and completed
Cost of units started and incomplete
Cost of units in ending WIP inventory
$84000.00
19000.00
152000.00
62500.00
62500.00
![A freshly started company has given the following details for a particular process: There was no beginning Work-in-Progress (WIP)
Inventory. A new batch of 1040 units was introduced for processing at the beginning of the day. The company works 8 hours on a daily
basis and a batch takes 6 hours of processing no matter how many units are introduced. In the first 6 hours, the entire 1040 units were
completed and removed from WIP Inventory to Finished Goods (FG) Inventory. 789 additional units were introduced that were still
incomplete at the end of the period. Conversion Costs (CC) are applied evenly throughout the process. Determine the equivalent units
for conversion costs in the ending WIP Inventory.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fecb3ccf8-64a3-4f42-90b5-c9c7edf16923%2Fd495218e-949b-4a44-b028-0be718e422fa%2Fcykp3f7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A freshly started company has given the following details for a particular process: There was no beginning Work-in-Progress (WIP)
Inventory. A new batch of 1040 units was introduced for processing at the beginning of the day. The company works 8 hours on a daily
basis and a batch takes 6 hours of processing no matter how many units are introduced. In the first 6 hours, the entire 1040 units were
completed and removed from WIP Inventory to Finished Goods (FG) Inventory. 789 additional units were introduced that were still
incomplete at the end of the period. Conversion Costs (CC) are applied evenly throughout the process. Determine the equivalent units
for conversion costs in the ending WIP Inventory.
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