Gullen Partners produces cleaning solvents. On September 1, it had no work-in-process inventory. It started production of
Question:
Gullen Partners produces cleaning solvents. On September 1, it had no work-in-process inventory. It started production of 56,000 gallons of solvent in September and completed production of 47,000 gallons. Cost records at Gullen show the following for September.
Required
The production supervisor estimates that the ending work in process is 62 percent complete on September 30. Compute the cost of solvent completed and the cost of the solvent in work-inprocess ending inventory as of September 30.
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Production Gallons Percentage complete Equivalent gallons Costs Materials Conversion costs Tota...View the full answer
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