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Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger
Edition 4ISBN: 978-0324380767Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger
Edition 4ISBN: 978-0324380767 Exercise 48
Unit Cost, Valuing Goods Transferred Out and EWIP
During May, the molding department of Lawler Foundry completed and transferred out 42,000 units. At the end of May, there were 15,000 units in process, 60 percent complete. Paterson incurred manufacturing costs totaling $612,000.
Required:
1. Calculate the unit cost.
2. Calculate the cost of goods transferred out and the cost of EWIP.
During May, the molding department of Lawler Foundry completed and transferred out 42,000 units. At the end of May, there were 15,000 units in process, 60 percent complete. Paterson incurred manufacturing costs totaling $612,000.
Required:
1. Calculate the unit cost.
2. Calculate the cost of goods transferred out and the cost of EWIP.
Explanation
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Verified
1. Calculation of unit cost of the moldi...
Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger
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