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ocess inventory: ork in process inventory

ocess inventory: ork in process inventory

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion S $ $ S 1,000 7,400 2,700 55 % 25 % 6,900 6,100 110,500 83,600 1,800 70 % 55 % The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round your intermediate calculations to 3 decimal places.)
Transcribed Image Text:Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion S $ $ S 1,000 7,400 2,700 55 % 25 % 6,900 6,100 110,500 83,600 1,800 70 % 55 % The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round your intermediate calculations to 3 decimal places.)
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