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Answer the following questions using the information below:
Samantha's Office Supplies manufactures desk organizers in its Processing Department. 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 as units are placed into production. After inspection, some units are spoiled due to nondetectible material defects. Spoiled units generally constitute 3% of the good units. Data provided for February 2015 are as follows:
-What costs are allocated to the ending work-in-process inventory for direct materials and conversion costs,respectively,using the FIFO method of process costing?
Bargaining Power
The ability of a party to exert influence over another party in negotiations to obtain favorable terms.
Continue Operations
The process of maintaining business activities without interruption.
Union Stewards
Elected representatives of a union's membership who serve as the first point of contact between the union and the employees.
Full-Time Employees
Workers who are employed in a capacity that typically requires a significant number of hours per week, usually considered to be at least 35-40 hours.
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