Problem 1: LII’J’PEII Butter {Process Costing] [1.5 points} Lovely Butter produces peanut butter using a two-stage process: grinding and packaging….

The question is self explanatory it is about management accounting.

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Problem 1: LII’J’PEII Butter {Process Costing] [1.5 points} Lovely Butter produces peanut butter using a two-stage process: grinding andpackaging. The following information is availahfe in the packaging department for the month of August: Beginning WIF’ {units} 150Costs transferred from grinding $450department- Cost of materiafs in packaging $2,00095% completed}- Conversion costs [50% $1.000 $3.450completed}Units transferred in August from 3‘50grinding departmentEnding work in process (units) 200Costs transferred from grinding in $2,625AugustConversion costs incurred in August $5.500Material costs incurred in August $12,000 The ending WIP was 50% complete w.r.t. materials and 25% complete w.r.t. conversion costs. Compute costs transferred out and costs in ending WIP for the packagingdepartment using the weighted average method.

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