Question 1
The ledger of Magdy Company has the following work in process account:
a) Ending inventory = 420+1160-1160 = 420 Units
b) Equivalent unit of material = 1160+420 = 1580
Unit material cost = (1860+7620)/1580 = 6
c) Equivalent unit of conversion = 1160+(420*40%) = 1328
Unit Conversion Cost = (1680+2380+1252)/1328 = 4
d) Total Cost of units transferred out = 1160*10 = 11600
e) The cost of the inventory = (420*6+168*4) = 3192
Question 1 The ledger of Magdy Company has the following work in process account: Question 1...
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