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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.

Solutions

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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