Long Island Rum accounts for production costs using the first in, first out (FIFO) method...
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Long Island Rum accounts for production costs using the first in first out FIFO method of process costing. Direct materials are all added at the beginning of production and conversion costs are incurred uniformly during production. In August, Long Island Rum had units in beginning workinprocess that were percent complete with respect to conversion costs. The company began production on another units in August and had units in ending workinprocess that were percent complete with respect to conversion costs. Long Island Rum incurred $ of direct materials costs and $ of conversion costs in July for August's beginning workin process units. Long Island Rum incurred an additional $ in direct materials costs and $ in conversion costs in August. Required: 
Long Island Rum accounts for production costs using the first in first out FIFO method of process costing. Direct materials are all
added at the beginning of production and conversion costs are incurred uniformly during production.
In August, Long Island Rum had units in beginning workinprocess that were percent complete with respect to conversion
costs. The company began production on another units in August and had units in ending workinprocess that were
percent complete with respect to conversion costs.
Long Island Rum incurred $ of direct materials costs and $ of conversion costs in July for August's beginning workin
process units. Long Island Rum incurred an additional $ in direct materials costs and $ in conversion costs in August.
Required:
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