The Franklin Company adds direct materials at the beginning of the manufacturing process. On July 1 ,
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Question:
The Franklin Company adds direct materials at the beginning of the manufacturing process. On July 1 , 3,000 units were in process. All direct materials had been added and they were 40% complete as far as conversion costs. The cost of the beginning inventory consisted of direct materials of $ 7,600 and conversion costs of $ 2,545 . During July 1 7,000 units were added at a material cost of $ 20,400 . Conversion costs were $ 32,490. On July 3 1 there were 2,500 units in the ending inventory. All direct materials were added and they were 70% complete for conversion costs.
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