Homework Answers
a)
Cost of issue
Aug 11 = 700 * 15 = $10,500
Aug 18 = 400 * 15 + 1500 * 17 = $31,500
Aug 30 = 200*17 + 600 * 18 = $14,200
Total cost = $56,200
b)
Journal entry
Work in progress $56,200
Material inventory $56,200
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