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Specifics Amount ($) Inventory in process, April 1,7,000 gallons: Direct...

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Accounting

Specifics Amount ($)
Inventory in process, April 1,7,000 gallons:
Direct materials cost, for 7,000 gallons 7,000
Conversion costs, for 7,000 gallons, 70% completed 3,225
Total inventory Costs processed in April 10,225
Direct materials cost for April, 62,000 gallons 68,000
Direct labor cost for April 12,500
Factory overhead applied for April 9,275
Total production cost to account for 100,000
Gallons transferred to Packaging in April (includes units in process on April 1),64,000 gallons ?
Inventory in process, April 30,5,000 gallons, 25% conversion costs ?
a. Allocate cost to units transferred out and partially completed. (10 points)
b. Considering the current economic conditions, would you recommend your company outsource raw materials from China or get them from the U.S. Explain the reason for your decision in paragraph format. (10 points)

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