Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.60 and $0.25, respectively. Theequivalent units to be assigned costs are as follows:Equivalent UnitsDirect Materials ConversionInventory in process, beginning of period2,400Started and completed during the period62,00062,000Transferred out of Filling (completed)62,00064,400Inventory in process, end of period10,0002,500Total units to be assigned costs72,00066,900The beginning work in process inventory had a cost of $4,500. Determine the cost of completed and transferred-out production and the ending work inprocess inventory.Completed and transferred out of production $Inventory in process, ending

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Description: Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.60 and $0.25, respectively. Theequivalent units to be assigned costs a

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ost of Units Transferred Out and Ending Work in Process he costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.60 and $0.25, respectively. T quivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion nventory in process, beginning of period 2,400 tarted and completed during the period 62,000 62,000 ransferred out of Filling (completed) 62,000 64,400 nventory in process, end of period 10,000 2,500 otal units to be assigned costs 72,000 66,900 he beginning work in process inventory had a cost of $4,500. Determine the cost of completed and transferred-out production and the ending work in ocess inventory. ompleted and transferred out of production nventory in process, ending %24

ost of Units Transferred Out and Ending Work in Process he costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.60 and $0.25, respectively. T quivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion nventory in process, beginning of period 2,400 tarted and completed during the period 62,000 62,000 ransferred out of Filling (completed) 62,000 64,400 nventory in process, end of period 10,000 2,500 otal units to be assigned costs 72,000 66,900 he beginning work in process inventory had a cost of $4,500. Determine the cost of completed and transferred-out production and the ending work in ocess inventory. ompleted and transferred out of production nventory in process, ending %24

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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