please provide explanations CoursHeroTranscribedText: Raby ro well 21 6 20. the blue manufacturing co....
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CoursHeroTranscribedText: Raby ro well 21 6 20. the blue manufacturing co. uses a Raw and In process (RIP) inventory account and expensed all conversion costs to the cost of goods sold account. At the end of each month, all inventories are counted, their conversion costs components are estimated and inventory account balances are adjusted accordingly. Raw material cost is backflushed from RIP to finished goods. The following information is for May. Raw and In process, May 1 38,700 Raw and In process, May 31 41,900 Raw materials purchased 680,000 Conversion costs incurred 4,800 Conversion costs allocated 5,300 Finished goods, May 1 12,000 Finished goods, May 31 10,000 a.) What is the calculated material cost to be backflushed from RIP to the COGS? b.) What is the amount of conversion costs to be backflushed to COGS
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