Marigold Enterprises is aptly named because of its signature item-chewing gum! The owners started the business years ago when no existing gum had the right flavor and texture combination. After years of perfecting the process, they had a finely tuned operation. This year, Marigold's main processing department reported the following activity and costs. Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion Units 300 22,800 22,100 1,000 DM 100% $260 $6,439 100% Conversion Costs 30% $480 $4,741 60% All DM resources are added to Marigold's processing department at the beginning of processing. Conversion costs are added evenly throughout the process. Marigold uses the weighted-average method of process costing.

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.