(SOLVED)- The following data relate to Twilight Manufacturing Ltd During July 133 500


Question Description:

$20

The following data relate to Twilight Manufacturing Ltd:
During July, 133,500 units were completed and transferred out.
Work in process, 1 June:
Direct material…………………………………………..15,000 units*
Conversion……………………………………………..$16,350
Costs incurred during June:
Direct material………………………………………….$169,050
Conversion………………………………………………240,300
The equivalent units for July were as follows:
Required:
1. Calculate each of the following amounts using weighted average process costing.
(a) Cost of goods completed during July.
(b) Cost of the 31 July work in process inventory.
2. Repeat requirement 1 using the FIFO method.

Answer

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