The ledger of Kinsler Company has the following work in process account. WORK IN PROCESS-PAINTING 5/1 Balance 5/31 Materials, 5/31 Labor 5/31 Overhead 5/31 Balance 5.300 5/31 Transferred out ? 7,740 4,110 2470 4 Production records show that there were 700 units in the beginning inventory. 30% complete, 3,800 units started, and 4,000 units transferred. The beginning work in process had materials cost of $3,060 and conversion costs of $2,240. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process

The ledger of Kinsler Company has the following work in process account. WORK IN PROCESS-PAINTING 5/1 Balance 5/31 Materials, 5/31 Labor 5/31 Overhead 5/31 Balance 5.300 5/31 Transferred out ? 7,740 4,110 2470 4 Production records show that there were 700 units in the beginning inventory. 30% complete, 3,800 units started, and 4,000 units transferred. The beginning work in process had materials cost of $3,060 and conversion costs of $2,240. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process

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Description: Please do not give solution in image format thanku The ledger of Kinsler Company has the following work in process account.WORK IN PROCESS-PAINTING5/1 Balance5/31 Materials,5/31 Labor5/31 Overhead5/31 Balance5.300 5/31 Transferred out ?7,7404,1102470

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3EB: A company has 100 units in ending work in process that are 40% complete after transferring out 750...

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