ABC Inc. uses a process costing system. All materials are added at the start of the...
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ABC Inc. uses a process costing system. All materials are added at the start of the production process. Direct labor and overhead are added at the same rate all throughout the process. ABC's records show the following data for October 2020. Beginning inventory (70% complete as to conversion) Started during October Completed during October Ending inventory for October is 40% complete as to conversion Compute for the following: 1. Total units to account for 360,000 units 510,000 units 780,000 units 2. Ending inventory in units 3. Total units started and completed 4. EP under Weighted Average (DM and Conversion Cost) 5. EP under FIFO (DM and Conversion Cost) ABC Inc. uses a process costing system. All materials are added at the start of the production process. Direct labor and overhead are added at the same rate all throughout the process. ABC's records show the following data for October 2020. Beginning inventory (70% complete as to conversion) Started during October Completed during October Ending inventory for October is 40% complete as to conversion Compute for the following: 1. Total units to account for 360,000 units 510,000 units 780,000 units 2. Ending inventory in units 3. Total units started and completed 4. EP under Weighted Average (DM and Conversion Cost) 5. EP under FIFO (DM and Conversion Cost)
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1 Total units to account for Total units to account for Beginning inventory Started during October Total units to account for 360000 units 510000 unit... View the full answer
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
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