The Following Data Has Been Provided by Leser Inc

question 26

Essay

The following data has been provided by Leser Inc. ,a company that uses the FIFO method in its process costing system.The data concern the company's Shaping Department for the month of June. $\begin{array}{llcc} \text { Cost in beginning work in process inventory........ } &\$1,150\\ \text { Units started and completed this month.............. } &2,910\\\end{array}$

$\begin{array} { l r c } & \text { Materials } & \text { Conversion } \\\text {Cost per equivalent unit ........................................ } & \$ 32.40& \$ 32.60 \\\text { Equivalent units required to complete the units in} & &\\\text { beginning work in process inventory .............. } &170&100\\\text {Equivalent units in ending work in process inventory..}&230&220\\ \end{array}$
Required:
Determine the cost of ending work in process inventory and the cost of the units transferred out of the department during June using the FIFO method.

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Definitions:

Demand Pay

Compensation determined by the desirability or demand for specific job skills in the labor market.

More Elastic

Refers to a greater sensitivity or responsiveness of the quantity demanded or supplied to changes in price, indicating a more noticeable shift in consumer or producer behavior in response to price fluctuations.

Senior Citizens

Individuals typically aged 65 and over who may qualify for certain benefits and considerations due to their age.

Bus Service

A form of public transportation that operates with a set schedule and route, providing transportation services to passengers.