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(Solved):   The following cost information is available for July for the Crest Plant at Calvert Compan ...



The following cost information is available for July for the Crest Plant at Calvert Company:
Materials are added at the begin

 

The following cost information is available for July for the Crest Plant at Calvert Company: Materials are added at the beginning of the process. The following quantities have been recorded: - Beginning inventory, 49,000 partially complete gallons, 35 percent complete with respect to conversio - Units started in July, 89,000 gallons. - Units transferred out in July, 99,000 gallons. - Ending inventory, 39,000 gallons, 60 percent complete with respect to conversion costs. Required: Compute the cost of goods transferred out and the ending inventory for July using the FIFO method. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.


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Equivalent unit of production is that part of unit which is completed during the period. when co. gives percentage of completion of whole unit. Then w
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