S Duffield Lubricants produces oil-based machine lubricants. On December 1, it had no work-in-process inventory. It starts production of 94,000 gallons of lubricant in December and completes 56,400 gallons. The costs of the resources used by Duffield in December consist of the following. Materials. Conversion costs (labor and overhead) $ 187,568 226,784 Required: The production supervisor estimates that the ending work in process is 40 percent complete. Compute the cost of lubricant transferred to finished goods and the amount in work-in-process ending inventory as of December 31. Note: Do not round intermediate calculations. Cost of lubricant transferred to finished goods Work-in-process ending inventory

S Duffield Lubricants produces oil-based machine lubricants. On December 1, it had no work-in-process inventory. It starts production of 94,000 gallons of lubricant in December and completes 56,400 gallons. The costs of the resources used by Duffield in December consist of the following. Materials. Conversion costs (labor and overhead) $ 187,568 226,784 Required: The production supervisor estimates that the ending work in process is 40 percent complete. Compute the cost of lubricant transferred to finished goods and the amount in work-in-process ending inventory as of December 31. Note: Do not round intermediate calculations. Cost of lubricant transferred to finished goods Work-in-process ending inventory

Name: s SDuffield Lubricants produces oil-based machine lubricants. On Decem
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Description: s SDuffield Lubricants produces oil-based machine lubricants. On December 1, it had no work-in-process inventory. It starts production of94,000 gallons of lubricant in December and completes 56,400 gallons. The costs of the resources used by Duffield

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 11E

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