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  3. exercise 9- your co. uses process costing to accou

Exercise 9- Your Co. uses process costing to account for production costs. Direct labor is...

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Accounting

Exercise 9- Your Co. uses process costing to account for production costs. Direct labor is added evenly
throughout the process and direct materials is added at the beginning of the process. During June, the
assembly department transferred 105 units to finished goods. Beginning WIP inventory was 10 units
with $50 direct materials and $100 direct labor. Ending WIP inventory consists of 20 units that are 60%
complete with respect to labor. $500 direct materials were incurred in June and $1070 direct labor
costs were also incurred. Overhead is applied at 200% of direct labor cost. Complete the process cost
summary below given this information.
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