Milton Manufacturing uses a process costing system. Products are processed successively by Dept. x and...
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Milton Manufacturing uses a process costing system. Products are processed successively by Dept. x and Dept. Y and are then transferred to the finished goods warehouse. The cost of work in process for May is $85,000, cost of units transferred in from Dept.x is $262,000, manufacturing costs added in Dept. Y are direct materials used $210,000, direct labor 45,000 and manufacturing overhead 67,000. Explain how the ending inventory is $113,500!
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