Refer to the Following Information About the Shaping Department of the Minnesota

question 117

Essay

Refer to the following information about the Shaping Department of the Minnesota Factory for the month of August. Minnesota Factory uses the FIFO method of inventory costing.
$$\begin{array} { l | l | l } & \begin{array} { l } \text { Equivalent } \\\text { Units }\end{array} & \begin{array} { l } \text { Total } \\\text { Cost }\end{array} \\\hline \text { Beginning Work in Process: } & & \\\hline \text { Costs from prior month } & & \$ 7,000 \\\hline \text { Materials added } & 300 & \\\hline \text { Labor and overhead added } & 375 & \\\hline \text { Started and completed goods: } & & \\\hline \text { Materials added } & 2,000 & \\\hline \text { Labor and overhead added } & 2,000 & \\\hline \text { Ending Work in Process: } & & \\\hline \text { Materials added } & 320 & \\\hline \text { Labor and overhead added } & 360 &\end{array}$$ The cost per equivalent unit of materials is $10.00, and the cost per equivalent unit of labor and overhead is $22.00.Prepare a cost reconciliation for the month of August.

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Definitions:

Enantiomers

Mirror-image forms of a molecule that cannot be superimposed on each other, often having different properties in a chiral environment.

Polarized Light

Light waves where vibrations happen on just one plane.

Specific Rotation

A measure of the degree to which a compound can rotate plane-polarized light, specific to its concentration and the length of the light path through the sample.

(S)-glyceraldehyde

The S-configuration enantiomer of glyceraldehyde, which serves as a standard for determining the absolute configuration of chiral molecules.