The Sofa Company manufactures furniture in two departments: molding and finishing. The company uses the weighted-average method
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Question:
The Sofa Company manufactures furniture in two departments: molding and finishing. The company uses the weighted-average method for process costing. August data for the finishing department are as follows:
Conversion costs are added evenly during the process. Direct material costs are added when production is 90% complete. The inspection point is at the 80% stage of production. Normal spoilage is 10% of all good units that pass inspection. Spoiled units are disposed of at zero net disposal value
Required:
For August, summarize total costs to account for and assign these costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process.
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