In June, one of the processing departments at Furbush Corporation had ending work in process inventory of $12,500. During the month, $409,000 of costs were added to production and the cost of units transferred out from the department was $431,000. In the department's cost reconciliation report for January, the cost of beginning work in process inventory for the department would be?

In June, one of the processing departments at Furbush Corporation had ending work in process inventory of $12,500. During the month, $409,000 of costs were added to production and the cost of units transferred out from the department was $431,000. In the department's cost reconciliation report for January, the cost of beginning work in process inventory for the department would be?

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 2E: During the month, a company with no departmentalization incurred costs of 45,000 for materials,...

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Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
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