Duffield Lubricants produces oll-based machine lubricants. On December 1, It had no work-in-process inventory. It starts production of 166,000 gallons of lubricant In December and completes 99,600 gallons. The costs of the resources used by Duffield in December consist of the following. Materials Conversion costs (labor and overhead) $ 197,568 771,248 Required: The production supervisor estimates that the ending work in process is 40 percent complete. Compute the cost of lubricant transferred to finished goods and the amount in work-in-process ending Inventory as of December 31. Note: Do not round Intermediate calculations. Cost of lubricant transferred to finished goods Work-in-process ending inventory
Duffield Lubricants produces oll-based machine lubricants. On December 1, It had no work-in-process inventory. It starts production of 166,000 gallons of lubricant In December and completes 99,600 gallons. The costs of the resources used by Duffield in December consist of the following. Materials Conversion costs (labor and overhead) $ 197,568 771,248 Required: The production supervisor estimates that the ending work in process is 40 percent complete. Compute the cost of lubricant transferred to finished goods and the amount in work-in-process ending Inventory as of December 31. Note: Do not round Intermediate calculations. Cost of lubricant transferred to finished goods Work-in-process ending inventory
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 11E
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