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Please help me with this question on my hmwk assignment. thank you!
Goode Company has the following production data for selected months. Month January March July Beginning Work in Process 0 0 0
0 0
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Answer #1
Materials
(Units Transferred Out + Units Ending WIP )
Conversion costs
(Units Transferred Out + (Units Ending WIP x % of Comp. )
January 52,000
( 38,600 + 13,400 )
44,496
( 38,600 + (13,400 x 44% )
March 51,100
( 42,800 + 8,300 )
48,942
( 42,800 + (8,300 x 74% )
July 69,100
( 49,900 + 19,200 )
54,700
( 49,900 + (19,200 x 25% ) )
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