Kramer Company Started Its Production Operations on August 1

question 86

Essay

Kramer Company started its production operations on August 1. During August, the printing department completed 17,600 units. There were 4,400 units in ending inventory which were 80% complete with respect to materials and 10% complete with respect to conversion costs. During August, the department accumulated materials costs of $45,408 and conversion costs of $76,670.
Required:
a. Calculate the cost of the goods transferred out.
b. What is the value of the ending inventory?
Round intermediate computation to nearest cent.

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Definitions:

Freudian Psychology

A branch of psychology that focuses on unconscious desires and conflicts, as theorized by Sigmund Freud.

Unconscious Conflicts

Mental struggles that originate in the unconscious mind, often from repressed emotions or desires.

Generous

Showing a readiness to give more of something, as money or time, than is strictly necessary or expected.

Cognitive Neuroscience

The study of the neural mechanisms underlying cognitive functions such as perception, memory, and language.