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What was the percentage degree of completion

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Reference no: EM132742871

A company operates a process costing system. The work-in-process account for last month is given below:

Work in Process Account

Opening work in process                                      0

Closing work in process                                   144,000

Manufacturing costs incurred during the month   624,000

Cost of goods manufactured                          480,000

Problem 1: The company finished producing 11,000 units and 4,000 incomplete units were still in process at the end of the month. The closing work in progress was complete to the same degree for materials and conversion costs. What was the percentage degree of completion of the closing work-in-progress?

Reference no: EM132742871

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