Hindsville produces a cleaning solvent. Production of 200,000 gallons was started in February, 170,000 gallons were completed. Material costs were $138,220 for the month while conversion costs were $116,380. There was no beginning work-in-process; the ending work-in-process was 60% complete.
Required:
(a) What is the total cost of the product that was completed and transferred to finished goods?
(b) What is the value of the ending work-in-process?

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The Answer of Hindsville produces a cleaning solvent. Production of 200,000 gallons was started in February, 170,000 gallons were completed. Material costs were $138,220 for the month while conversion costs were $116,380. There was no beginning work-in-process; the ending work-in-process was 60% complete.
Required:
(a) What is the total cost of the product that was completed and transferred to finished goods?
(b) What is the value of the ending work-in-process?

Hindsville Produces a Cleaning Solvent