Question

Processing costing: Cost flows (LO 2)

Fill in the missing data (ignore indirect materials).


Raw Materials WIP - Mixing WIP - Assembly
Inventory
Beginning Balance $ 4,000 $6,000 $10,000
Material purchased 10,000
Direct material used 12,000 10,000 (c)
Conversion costs incurred 8,000 3,000
Completed units transferred 21,000 (d) (e)
Cost of goods sold
Ending balance (a) (b) $3,000

Answer 1

Step-by-step explanation:

Raw Materials WIP - Mixing WIP - Assembly

Inventory

Beginning Balance $ 4,000 $6,000 $10,000

Material purchased 10,000

Direct material used 12,000 10,000 (c)2000

Conversion costs incurred 8,000 3,000,

Completed units transferred 21,000 (d) 21,000 (e) 31,000

Cost of goods sold 0

Ending balance (a)$2,000 (b) $3,000 (c) $3,000