Time of Your Life is a manufacturer of graduation caps. The company uses the weighted average method process costing to account for product costs. The following information relates to the beginning inventory for August 2019: DM Costs C Costs $1,296 $2,416 The 800 physical units in beginning inventory were 60% complete with respect to direct materials and 10% complete with respect to conversion. What was the cost to assemble a cap in July 2019?

Time of Your Life is a manufacturer of graduation caps. The company uses the weighted average method process costing to account for product costs. The following information relates to the beginning inventory for August 2019: DM Costs C Costs $1,296 $2,416 The 800 physical units in beginning inventory were 60% complete with respect to direct materials and 10% complete with respect to conversion. What was the cost to assemble a cap in July 2019?

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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Pease help with questions (a) (b) and (c) as highlighted in red