On January 1, Metlock Company had 1,100 gallons of juice that were already 30% complete...
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On January 1, Metlock Company had 1,100 gallons of juice that were already 30% complete for comversion costs at that time. Corversion costs are added evenly throuphout production, whlle two DM resources are added at different stages; flavoring, added at the beginning of the process, and packaging, added when un is have received 95% of conversion costs. Throughout the year, Metiock started another 59,300 gallons of Juice, By year-end, 58,800 gallonshad been completed, leaving 1,600 gallons still in WIP Imventory. These ending units were 80% complete for corversion costs so had not yet been packaged. (a) Assuming that Metlock uses the FiFO method of process costing, use Step 1 of the template to determine its physical flow of units and identify degree of completion. STEP 1 Verify Physical Units in Period and Identify Degree of Completion Physical Units Flavoring % eTextbook and Media - Savelor Later Attempts: 0 of 3 used Submit Arswer
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