Old Tyme Soda produces one flavor of a popular local soft drink.It had no work-in-process on October 31 in its only inventoryaccount. During November, Old Tyme started 10,300 barrels.Work-in-process on November 30 is 1,350 barrels. The productionsupervisor estimates that the ending work-in-process inventory is20 percent complete. An examination of Old Tyme’s accountingrecords shows direct material costs of $14,980 and conversion costsof $21,900 for November. All production is sold as it is produced.Required: a. Compute cost of goods sold for November. (Do not roundintermediate calculations.) b. What is the value of work-in-processinventory on November 30? (Do not round intermediatecalculations.)
