Sanyo Corporation manufactures a popular model of business calculators in a suburb of Seoul, South Korea. The production process goes through two departments: assembly and testing. The following information (in thousands of South Korean currency, the won) pertains to the testing department for the month of July. Work-in-Process Inventory, July 1 Transferred-in costs Costs added in July Direct materials Conversion 6,000 units 57,800 won (100% complete) 23,400 won (100% complete) 23,360 won (80% complete) During the month of July, 15,000 units were transferred in from the assembly department at the cost of 141,700 won, and the testing department added costs of 201,820 won, as follows:

Sanyo Corporation manufactures a popular model of business calculators in a suburb of Seoul, South Korea. The production process goes through two departments: assembly and testing. The following information (in thousands of South Korean currency, the won) pertains to the testing department for the month of July. Work-in-Process Inventory, July 1 Transferred-in costs Costs added in July Direct materials Conversion 6,000 units 57,800 won (100% complete) 23,400 won (100% complete) 23,360 won (80% complete) During the month of July, 15,000 units were transferred in from the assembly department at the cost of 141,700 won, and the testing department added costs of 201,820 won, as follows:

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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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