Sanchez & Company produces paints. On July 1, it had no work-in-process inventory. It starts...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Sanchez & Company produces paints. On July 1, it had no work-in-process inventory. It starts production of 111,000 gallons of paint in July and completes 86,000 gallons. The costs of the resources used by Sanchez in July consist of the following: Materials $ 293,650 Conversion costs (labor and overhead) 280,100 Required: The production supervisor estimates that the ending work-in-process is 81 percent complete. Compute the cost of paint transferred to finished goods and the amount in work-in-process ending inventory as of July 31. (Do not round intermediate calculations.)
-----------------------------------
cost of paint transferred to finished goods
work in process ending inventory
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
