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Sanchez & Company produces points. On July 1, it had no...

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Accounting

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Sanchez & Company produces points. On July 1, it had no work-in-process inventory. It starts production of 106,000 gallons of paint in July and completes 86,000 gallons. The costs of the resources used by Sanchez in July consist of the following: Materials Conversion costs (labor and overhead), $ 258,260 281,500 Required: The production supervisor estimates that the ending work-in-process is 89 percent complete. Compute the cost of paint transferred to finished goods and the amount in work-in-process ending inventory as of July 31. (Do not round Intermediate calculations.) Cost of paint transferred to finished goods Work-in-process ending inventory

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