Lexington corp. produces baseball bats and crickets. It has two departments that process all products. During July, the beginning WIP in cutting department was half completed and complete as to direct materials. The beginning inventory included 40,000 for materials and 60,000 for conversion cost. Ending WIP inventory in in the cutting department was 40% complete for conversion cost. Materials are added at the start pf the process. Beginning WIP in finishing department was 20% incomplete as to conversion cost. Direct materials for department 2 are added near the end of the process. Beginning inventories included 24,000 for material cost and 28,000 for conversion cost. WIP beg. cost from preceding department amounted 54,600. Ending inventory was 70% incomplete. Additional information about the two department are as follows: using average method compute for: 1. Cost of WIP end 2. Unit cost of transferred unit
Lexington corp. produces baseball bats and crickets. It has two departments that process all products. During July, the beginning WIP in cutting department was half completed and complete as to direct materials. The beginning inventory included 40,000 for materials and 60,000 for conversion cost. Ending WIP inventory in in the cutting department was 40% complete for conversion cost. Materials are added at the start pf the process.
Beginning WIP in finishing department was 20% incomplete as to conversion cost. Direct materials for department 2 are added near the end of the process. Beginning inventories included 24,000 for material cost and 28,000 for conversion cost. WIP beg. cost from preceding department amounted 54,600. Ending inventory was 70% incomplete. Additional information about the two department are as follows:
using average method compute for:
1. Cost of WIP end
2. Unit cost of transferred unit
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