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Wright Company Wright Company Adds Material at the Start of Production.The Following

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Wright Company
Wright Company adds material at the start of production.The following production information is available for September:

 Beginning Work in Process Inventory    
  (45% complete as to conversion)    10,000 units
 Started this period     120,000 units
 Ending Work in Process Inventory  80% complete as to conversion)  8,200 units
 Beginning Work in Process Inventory Costs:    
   Material  $24,500
   Conversion  68,905
 Current Period Costs:    
   Material  $ 75,600
   Conversion  130,053

Refer to Wright Company.What is the cost of all units transferred out using the FIFO method?

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Definitions:

Obligations

Duties or responsibilities imposed by law, contract, or one's conscience.

Discharged

Released or freed from a legal, financial, or other obligation.

Concurrent Conditions

Circumstances where two or more conditions must occur at the same time for a contract or agreement to be fully enforceable.

Conditions Precedent

Requirements that must be met before a contract becomes effective or before certain actions can be taken.

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