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Production costs chargeable to the Finishing Department in June in Marigold Company are materials $16,800, labor $41,748, oveCost Reconciliation Cost accounted for Transferred out Work in process Materials Conversion costs Total cost accounted for $

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Answer #1
Cost reconciliation
Costs accounted for:
Transferred out (18900 x $3.84) = $ 72,576
Work in process
Material (2100 x $0.80) = $    1,680
Conversion Costs (2100 x 50% X $3.04) = $    3,192
Total Costs accounted for = $ 77,448
Workings:
Material cost per unit ($16,800 / 21000 units) = $       0.80
Conversion cost per unit [($41748 + $18900) / 19950 units] = $       3.04
Total $       3.84
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