Question: Please do it as soon as possible The following data have been compiled for Lily Enterprises Ltd for the month of August. Conversion occurs uniformly
Please do it as soon as possible
The following data have been compiled for Lily Enterprises Ltd for the month of August. Conversion occurs uniformly throughout the production process. Work in process, 1 August 15,000 units Direct material (100% complete) $25,000 Conversion (35% complete) $15,000 Balance in work in process, 1 August $40,000 Units started during August 128,000 Units completed during August and transferred 97,000 out to finished goods inventory Work in process, 31 August: Direct material (100% complete) Conversion (14% complete) Costs incurred during August: Direct material $215,000 Conversion costs: Direct labour $66,000 $256,000 $322,000 Manufacturing overhead Total production costs incurred during August $537,000 Calculate and enter the amount for remaining inventory at 31 August in the answer space below
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