[Solved] Malcom Industries Manufactures a Silicone Paste Wax That Goes Through
Malcom Industries manufactures a silicone paste wax that goes through three processing departments: cracking, blending, and packing. All raw materials are introduced at the start of work in the cracking department, with conversion costs being incurred uniformly in each department. The Work-in-Process inventory account for the cracking department for July contains the following information: The beginning balance inventory consists of $43,400 in materials cost. Malcom uses the weighted-average method to account for its operations. Required: (Use 4 decimal places for computations.) (a) What would be the Cracking Department's inventory balance on July 31? (b) What would be the cost transferred to the Blending Dept. in July?
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