Hi,
Hope this could help.
Regards,
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Andrea Momesso
Controller
CHANTILLY - OISE
France
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Original Message:
Sent: 04-27-2020 01:31 AM
From: Shreshth Upadhyay
Subject: Question
Hi,
Can anyone please solve this question and explain it the exception of this question.
A.P. Hill Corporation uses a process-costing system. Products are manufactured in a series of three departments. The following data relate to Department Two for the month of February: Beginning work-in-process | | (70% complete) | 10,000 units | Goods started in production | 80,000 units | Ending work-in-process | | (60% complete) | 5,000 units |
| | The beginning work-in-process was valued at $66,000, consisting of $20,000 of transferred-in costs, $30,000 of materials costs, and $16,000 of conversion costs. Materials are added at the beginning of the process; conversion costs are added evenly throughout the process. Costs added to production during February were Transferred-in | $16,000 | Materials used | 88,000 | Conversion costs | 50,000
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| Assume that the company uses the first-in, first-out (FIFO) method of inventory valuation. Under FIFO, how much conversion cost did A.P. Hill transfer out of Department Two during February? | | | | | | | | | |
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