Data for Orlando Company for the Month of June 20xx

question 104

Essay

Data for Orlando Company for the month of June 20xx are as follows:
$\begin{array}{ll}\text { Beginning work in process inventory: } & \text { Operations for the month of June: } \\\text { Units - } 800 & \text { Units started-14,000 } \\\text { Direct materials - } 100 \% \text { complete } & \text { Direct materials costs- } \$ 57,400 \\\text { Conversion costs- } 70 \% \text { complete } & \text { Conversion costs- } \$ 50,122\\\text { Direct materials costs \( -\$ 2,860 \) }\\\text { Conversion costs- \( \$ 2,150 \)}\\\text { Ending work in process inventory:}\\\text { Units - 1500}\\\text {Direct materials \( -100 \% \) complete }\\\text {Conversion costs- \( 30 \% \) complete}\\\end{array}$ Assume the company uses a FIFO flow of costs.
a. Prepare a process cost report for July.
b. Identify the amount that should be transferred out of the Work in Process Inventory account, and state where those dollars should be transferred.
$\$ 2,150$ }\\ \text { Ending work in process inventory:}\\ \text { Units - 1500}\\ \text {Direct materials $-100 \%$ complete }\\ \text {Conversion costs- $30 \%$ complete}\\ \end{array} Assume the company uses a FIFO flow of costs. a. Prepare a process cost report for July. b. Identify the amount that should be transferred out of the Work in Process Inventory account, and state where those dollars should be transferred. " class="answers-bank-image d-block" rel="preload" >

---

Definitions:

U.S. Congress

The bicameral legislature of the federal government of the United States, consisting of two chambers: the Senate and the House of Representatives.

Socialist Representative

A political representative who advocates for socialism, focusing on social ownership, democratic control of the means of production, and prioritizing social welfare.

Industrial Workers of the World

Radical union organized in Chicago in 1905 and nicknamed the Wobblies; its opposition to World War I led to its destruction by the federal government under the Espionage Act.

American Federation of Labor

An early 20th-century national federation of labor unions in the United States, focused on better wages, hours, and working conditions.