Question: Physical Units Direct Conversion (Pennants) Materials Costs Work in process, November 19 900 $1,755 $1,096 Started in November 2017 Good units completed and transferred out

 Physical Units Direct Conversion (Pennants) Materials Costs Work in process, November
19 900 $1,755 $1,096 Started in November 2017 Good units completed and

Physical Units Direct Conversion (Pennants) Materials Costs Work in process, November 19 900 $1,755 $1,096 Started in November 2017 Good units completed and transferred out during November 2017 9,100 Normal spoilage 150 Abnormal spoilage 25 Work in process, November 300 2,100 Total costs added during November 2017 $10,894 $30,064 a Degree of completion: direct materials, 100%; conversion costs, 45%. "Degree of completion direct materials, 100%; conversion costs, 25%. Question Help Consider the following data for November 2017 from Gary Manufacturing Company, which makes silk pennants and uses a process costing systm All direct matorials are added at the beginning of the process, and conversion costs are added evenly during the process. Spoilage is detected upon inspechon at the completion of the process. Spoiled units are disposed of at zero net disposal value Suppose Gary Manufacturing Company uses the FIFO method of process costing Click the icon to view the data) Read the requirement Enter the physical units in first, then calculate the equivalent units (Complete all answer boxes. Enter a "O" for any zoro amounts) Units 10/20) Physical Flow of Production Work in process, beginning Started during current period To account for Good units completed and transferred out during current period From beginning work in process Started and completed Normal Spoilage Abnormal spoilago Work in DIOCESS. ending a nd then click Check

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!