(Cost assignment; weighted average) Krantz Inc. uses weighted average process costing. The companys cost accountant has determined...

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(Cost assignment; weighted average) Krantz Inc. uses weighted average process costing. The company’s cost accountant has determined the following produc¬ tion and cost per EUP information for May 1997: image text in transcribed

a. What is the cost of the goods transferred during May?

b. What is the cost of the goods in ending inventory at May 31, 1997?

c. What is the total cost to account for during May?LO1

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Cost Accounting Traditions And Innovations

ISBN: 9780538880473

3rd Edition

Authors: Jesse T. Barfield, Cecily A. Raiborn, Michael R. Kinney

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(Cost assignment; weighted average) Krantz Inc. uses weighted average process costing. The companys cost accountant has determined...

Question:

Units transferred out during month 256,000 Units in ending inventory (100% complete as to direct material; 80% complete as to direct labor; 95% complete as to overhead) 37,000 Direct material cost per EUP $3.75 Direct labor cost per EUP $4.96 Overhead cost per EUP $5.10

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Cost Accounting Traditions And Innovations

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