Kramer Company started its production operations on August 1. During August, the Printing Department completed 17,600 units. There were 4,400 units in ending inventory which were 80% complete with respect to materials and 10% complete with respect to conversion costs. During August, the department accumulated materials costs of $45,408 and conversion costs of $76,670.
Required:
a. Determine the cost of the goods transferred out.
b. What is the value of the ending inventory?

Question

Kramer Company started its production operations on August 1. During August, the Printing Department completed 17,600 units. There were 4,400 units in ending inventory which were 80% complete with respect to materials and 10% complete with respect to conversion costs. During August, the department accumulated materials costs of $45,408 and conversion costs of $76,670.​
Required:
a. Determine the cost of the goods transferred out.
b. What is the value of the ending inventory?

Quizplus · Accepted Answer

The Answer of Kramer Company started its production operations on August 1. During August, the Printing Department completed 17,600 units. There were 4,400 units in ending inventory which were 80% complete with respect to materials and 10% complete with respect to conversion costs. During August, the department accumulated materials costs of $45,408 and conversion costs of $76,670.​
Required:
a. Determine the cost of the goods transferred out.
b. What is the value of the ending inventory?

Kramer Company Started Its Production Operations on August 1