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Rutgers University Operations And Supply Chain Management Assignment Help - process inventory


Question - Waller Inc. 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 the beginning work in process inventory 600
Materials costs $ 4,200
Conversion costs $ 7,800
Percent complete with respect to materials 55%
Percent complete with respect to conversion 30%
Units started into production during the month 9,900
Units transferred to the next dept during the month 8,900
Materials costs added during the month $108,400
Conversion costs added during the month $364,700
Ending work in process inventory:
Units in ending work in process inventory 1,600
Percent complete with respect to materials 60%
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