Calcuate the cost of items completed during november? At the start of November, ToyCo Refinery had Work in Process inventory consisting of 4,200 units that were 70 percent complete with respect to materials and 50 percent complete with respect to conversion costs. The cost of the units was $43,500 ($31,100 of material cost and $12,400 of labor and overhead). During November, the company started 40,800 units and incurred $457,080 of material cost and $419,000 of labor and overhead. The company completed 41,900 units during the month, and 3,100 units were in process at the end of November. The units in ending Work in Process were 80 percent complete with respect to materials and 40 percent complete with respect to conversion costs.
Calcuate the cost of items completed during november? At the start of November, ToyCo Refinery had Work in Process inventory consisting of 4,200 units that were 70 percent complete with respect to materials and 50 percent complete with respect to conversion costs. The cost of the units was $43,500 ($31,100 of material cost and $12,400 of labor and overhead). During November, the company started 40,800 units and incurred $457,080 of material cost and $419,000 of labor and overhead. The company completed 41,900 units during the month, and 3,100 units were in process at the end of November. The units in ending Work in Process were 80 percent complete with respect to materials and 40 percent complete with respect to conversion costs.
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...
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