The Inventory at May 1 and the Costs Charged to Work

question 31

Essay

The inventory at May 1 and the costs charged to Work in Process--Department B during May for Stella Company are as follows:
During May, all direct materials are transferred from Department A, the units in process at May 1 were completed, and of the 55,000 units entering the department, all were completed except 6,000 units which were 70% completed. Inventories are costed by the first-in, first-out method.
Prepare a cost of production report for May. Round unit cost data to four decimal places and total cost to nearest cent.

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Definitions:

Chemical Additives

Substances added to products to enhance or preserve their properties, such as flavor, color, or shelf life.

Shelf Life

That length of time that sterile items are given before they are considered unsuitable for maintaining sterility.

Cultural Diet

Eating habits and dietary preferences that are heavily influenced by the traditions, beliefs, and norms of a specific culture.

Chinese

Relating to China, its people, languages, or culture.