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Question - Dirt Cleaners, Inc. has the following production data for January and used weighted average method:
Transferred out 50,000 units
Ending Work in Process 6,000 units
The units in ending Work in Process are 100% complete for materials and 60% complete for conversion costs.
There is no beginning Work in Process. Materials cost is $10 per unit and conversion costs are $11 per unit.
Required - Determine the costs (Material costs & conversion costs) to be assigned to the units in ending Work in Process.
Statements of Financial Accounting Standards
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