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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please do not give solution in image format thanku

Transcribed Image Text:points
Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs
uniformly throughout production. The beginning work-in-process inventory is 60% complete with respect to conversion; the ending work-in-process
Inventory is 30% complete. The following data pertain to May:
Work in process, May 1
Units started during May
Units completed and transferred out
Work in process, May 31
Costa
Work in process, May 1
Costs incurred during May
Totale
Units
15,900
64,500
72,500
7,900
Total
$ 45,750
237,330
$283,080
Direct
Materials
Conversion
Costa
$ 18,300 $ 27,450
73,800 163,530
$92,100 $ 190,980.
Using the weighted average method of process costing, the total costs remaining in work in process on May 31 are closest to (Do not round
Intermediate calculations)

Transcribed Image Text:O
O
O
O
$0.
$15,095.
$16,831.
$11,221.
None of the answers is correct.
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