he ledger of Hasgrove Company has the following work in process account. Work in Process—Painting 3/1...

he ledger of Hasgrove Company has the following work in process account. Work in Process—Painting 3/1 Balance 3,770 3/31 Transferred out ? 3/31 Materials 6,600 3/31 Labor 2,800 3/31 Overhead 872 3/31 Balance ? Production records show that there were 800 units in the beginning inventory, 30% complete, 1,100 units started, and 1,400 units transferred out. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. Hasgrove uses the FIFO method to compute equivalent units.

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Expert Solution

Workings (Marked Yellow Cell show the missing values)

The cost reconciliation is apparent in the ledger hereunder:

ekkarill92 answered 1 year ago

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