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Use the information below to answer the following question(s) .Cartwright Custom Carpentry manufactures chairs in its Processing Department, and uses the FIFO cost flow assumption.Direct Materials are included at the inception of the production cycle and must be bundled in single kits for each unit.Conversion costs are incurred evenly throughout the production cycle.Inspection takes place at the end of the process, and spoiled units generally constitute 3 percent of the good output.Information provided for March is as follows:
-What costs are allocated to the ending work-in-process inventory for direct materials and conversion costs, respectively?
Administrative Expenses
Expenses related to the general operation of a business that are not directly tied to production, such as office supplies and salaries of non-production staff.
Client-Visits
The act of meeting with clients in-person or virtually to discuss services, products, or business progress.
Personnel Expenses
Costs incurred by a business related to the compensation of its employees, including wages, benefits, and taxes.
Planning Budget
An estimated financial plan used primarily for strategic and operational planning within an organization.
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