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Question - The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process.
Production: Beginning inventory 1,650 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 40,600; ending inventory of 6,300 units 10% complete as to conversion costs.
Manufacturing costs: Beginning inventory costs, comprised of $21,700 of materials and $11,256 of conversion costs; materials costs added in Polishing during the month, $180,678; labor and overhead applied in Polishing during the month, $127,200 and $257,340, respectively.
Required - Determine the costs to be assigned to the units transferred out and in process.
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