Question: Company C uses the Process Costing system. The data regarding Company C are given below: November data Forming Section Placement Section Units: Starting Work in
Company C uses the Process Costing system. The data regarding Company C are given below:
| November data | Forming Section | Placement Section |
| Units: | ||
| Starting Work in Progress | ---------------------- | 25,000 units |
| production started | 60,000 units | |
| Transfer from Previous Department | --------------------- | ? |
| Completed Goods Inv. | 50,000 units | 60,000 units |
| Expired WIP Invoice | 10,000 units | 15,000 units |
| As Mandatory Direct Material | %80 | %50 |
| As for the Mandatory Convers. Work | %50 | %60 |
| Costs: | ||
| Starting Work in Progress | --------------------- | $112,500 |
| Transferred from Previous Section | --------------------- | ? |
| Direct Ingredients Added | 145.000 $ | 135.000 $ |
| Conversion Costs Added | 110.000 $ | $103,500 |
Calculate WIP Inventory Forming, WIP Inventory Addition and Finished Goods Inventory.
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