Calgary Corporation produces a liquid solvent in two departments: Mixing and Finishing. Assume that Calgary Corporation provides

Question:

Calgary produces a liquid solvent in two departments: Mixing and Finishing. Assume that Calgary provides you with the following information for finishing operations for November (no new material is added in the Finishing Department):
WIP inventory--Finishing
Beginning inventory (10,000 units, 30% complete with respect to finishing costs)
Transferred-in costs (from Mixing)................................. $ 109,600
Finishing conversion costs.............................................. 11,006
Current work (98,000 units started)
Mixing costs................................................................... 862,400
Finishing costs............................................................... 398,594
The has 14,000 units, which are 60 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.

Required
Prepare a production cost report using the weighted-average method.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...