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Duke University Operations And Supply Chain Management Assignment Help - managerial accounting


Question - Muzyka Corporation uses the FIFO method in its process costing system. Data concerning the first
processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory 300
Materials costs $5,900
Conversion costs $3,000
Percentage complete with respect to materials 85%
Percentage complete with respect to conversion 20%
Units started into production during the month 5,300
Materials costs added during the month $105,922
Conversion costs added during the month $225,221
Ending work in process inventory:
Units in ending work in process 800
Percentage complete with respect to materials 50%
Percentage complete with respect to conversion 40%
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