Units in process at the beginning of August1,100Units started in August2,700Units completed and transferred3,400Units in process at end of August400 Phillips Company has the following data for the Assembly Department for August:E (Click the icon to view the data.)Conversion costs are added evenly throughout the process. The company uses the weighted-averagemethod.Read the requirement.3,8003,8003,760Total units accounted forScenario 3. Units in process at the end of August are 10% complete; materials are added at the end of theprocess. (Complete all answer boxes. Enter "Ö" for zero balances.)Phillips CompanyProduction Cost Report - Assembly Department (Partial)Month Ended August 31Equivalent UnitsPhysicalDirectConversionUNITSUnitsMaterialsCostsUnits accounted for:Completed and transferred outEnding work-in-processTotal units accounted for

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Description: Units in process at the beginning of August1,100Units started in August2,700Units completed and transferred3,400Units in process at end of August400 Phillips Company has the following data for the Assembly Department for August:E (Click the icon to

Process costing is an example of operation costing. It computes the cost attributable at every stage…

Answered: Scenario 3. Units in process at the end…

Business

Accounting

Scenario 3. Units in process at the end of August are 10% complete; materials are added at the end of the process. (Complete all answer boxes. Enter "0" for zero balances.)

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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Sandhill Company has the following record of costs. Balance May 1 Materials Labor Overhead Transfer out Balance May 31 MANUFACTURING COSTS Raw Materials Inventory -$5,700 Factory Labor -$2,710 Manufacturing Overhead -$1,280 WORK IN PROCESS Painting $3,790 5,700 2,710 1,280 -? $? FINISHED GOODS INVENTORY ? Production records show that there were 600 units in the beginning inventory, 30% complete, 1,600 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,440 and conversion costs of $1,350. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
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