A company produces baseball bats and cricket paddles, and has two departments that process all products. Direct materials are added at the end of the process; conversion costs are added evenly throughout the process. Beginning work-in-process in the Finishing Department was 80 percent complete as to conversion; ending inventory was 30 percent complete. Beginning inventories for the Finishing Department included $24,000 for transferred-in costs and $28,000 for conversion costs. Additional information is as follows:
Required:
Using the first-in, first-out method determine the assignment of costs to units transferred-out and ending inventory for the Finishing Department.

Question

A company produces baseball bats and cricket paddles, and has two departments that process all products. Direct materials are added at the end of the process; conversion costs are added evenly throughout the process. Beginning work-in-process in the Finishing Department was 80 percent complete as to conversion; ending inventory was 30 percent complete. Beginning inventories for the Finishing Department included $24,000 for transferred-in costs and $28,000 for conversion costs. Additional information is as follows:
    Required:
Using the first-in, first-out method determine the assignment of costs to units transferred-out and ending inventory for the Finishing Department.

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The Answer of A company produces baseball bats and cricket paddles, and has two departments that process all products. Direct materials are added at the end of the process; conversion costs are added evenly throughout the process. Beginning work-in-process in the Finishing Department was 80 percent complete as to conversion; ending inventory was 30 percent complete. Beginning inventories for the Finishing Department included $24,000 for transferred-in costs and $28,000 for conversion costs. Additional information is as follows:
    Required:
Using the first-in, first-out method determine the assignment of costs to units transferred-out and ending inventory for the Finishing Department.

A Company Produces Baseball Bats and Cricket Paddles, and Has