The Stewart Company Had Computed the Flow of Units for Department

question 149

Essay

The Stewart Company had computed the flow of units for Department 123 for the month of July as follows:
$\begin{array}{ll}\text { Work in process, July 1: } & 10,000 \\\text { Started into production during July } & 39,000 \\\text { Units to be accounted for } & 49,000\end{array}$ Materials are added at the beginning of the process.There were 8,000 units of work in process at July 31.The work in process at July 1 was 70% complete as to direct labour and factory overhead costs,and the work in process at July 31 was 60% complete as to direct labour and factory overhead costs.What was the cost of the goods transferred out and in ending work in process using the FIFO method?

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Definitions:

Clairvoyance

The supposed ability to gain information about an object, person, location, or physical event through extrasensory perception, beyond the known human senses.

Precognition

The knowledge of an event before it happens, often considered as a type of extrasensory perception.

Telepathy

The alleged exchange of information between individuals without utilizing any established human senses or physical interaction.

Light Wave's Amplitude

The height of a light wave, which determines the brightness or intensity of the light.