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Base you answer on the following data from Gold Star Product

Paper help Economics Base you answer on the following data from Gold Star Product

Economics

Base you answer on the following data from Gold Star Product

Base you answer on the following data from Gold Star Products, Inc., for the month of January. T… Show more Base you answer on the following data from Gold Star Products, Inc., for the month of January. The company uses the average cost method of accounting for beginning work in process. Gold Star Products, Inc., for the month of January Gold Star Products, Inc., for the month of January Gold Star Products, Inc., for the month of January Gold Star Products, Inc., for the month of January Quantity Stage of Completion of Ending Work in Process Stage of Completion of Ending Work in Process Work in Process – Beginning 400 Materials complete Started in Production – Current Month 600 Labor 60% Transferred Out to Next Department 800 Overhead 60% Work in Process – Ending 190 Lost in Production Costs Work in Process – Beginning: Materials $9,968.00 Labor 2,224.80 Overhead 1,898.40 Total $14,091.20 Current Month: Materials $15,041.11 Labor 11,589.19 Overhead 9,895.25 Total $36,525.55 a) How many units were lost in production? b) The equivalent production for materials, labor, and overhead, respectively is: c) The unit costs of materials, labor, and overhead, respectively are: d) The costs transferred to the next department total: e) The cost of the labor in ending Work in Process is: • Show less

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