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17 August, 11:15

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

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  1. 17 August, 11:28
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    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
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