Krish Company has a Mixing Department and a Refining Department. Its process- costing system in the Mixing Department has two direct materials cost categories (material AA and material BB) and one conversion cost pool. The company uses first- in-first-out cost flow method. The following data pertain to the Mixing Department for October, 2019. Units Work-in-process, October 1: 50% completed Work-in-process, October 31, 70% completed Units started 30,000 50,000 120,000 100,000 Completed and transferred Costs Work-in-process, October 1 Material AA Material BB Conversion costs 436,000 1,440,000 1,500,000 600,000
Krish Company has a Mixing Department and a Refining Department. Its process- costing system in the Mixing Department has two direct materials cost categories (material AA and material BB) and one conversion cost pool. The company uses first- in-first-out cost flow method. The following data pertain to the Mixing Department for October, 2019. Units Work-in-process, October 1: 50% completed Work-in-process, October 31, 70% completed Units started 30,000 50,000 120,000 100,000 Completed and transferred Costs Work-in-process, October 1 Material AA Material BB Conversion costs 436,000 1,440,000 1,500,000 600,000
Chapter1: Financial Statements And Business Decisions
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