The Kioda Corporation produces computer chips. The following information relates to production in January:<\/p>
Beginning Work in Process inventory: 6,000 units, 85 percent complete as to conversion; costing $330,055 (direct materials, $260,000; conversion costs, $70,055). Production started: 33,000 units. Production completed: 29,500 units. Ending Work in Process inventory: 9,500 units, 55 percent complete as to conversion. Direct materials used: X1, $295,000; Y2, $750,000; Z3, $490,170. Hourly wages of direct laborers, $25; total direct-labor payroll, $162,500. Overhead application rate: $70 per direct labor hour.<\/p>
Required All parts are introduced at the beginning of Kioda's manufacturing process; conversion costs are incurred uniformly throughout production.<\/p>
Calculate the total cost of direct material and conversion during January. Determine the cost of goods completed during the month. Determine the cost of the work-in-process inventory on January 31.<\/p>", "transcribed_text": "", "related_book": { "title": "Financial and managerial accounting", "isbn": "111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114", "edition": "1st edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/221.jpg", "uri": "\/textbooks\/financial-and-managerial-accounting-1st-edition-221", "see_more_uri": "\/textbooks\/business-strategic-hr-planning-3399" }, "free_related_book": { "isbn": "979-8764089034", "uri": "\/textbooks\/cybersecurity-consultants-playbook-the-key-to-your-cyber-career-1st-edition-979-8764089034-153741", "name": "Cybersecurity Consultants Playbook The Key To Your Cyber Career", "edition": "1st Edition" }, "question_posted": "2024-05-27 06:05:26", "see_more_questions_link": "\/study-help\/questions\/business-human-resource-management-2020-May-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/college-algebra\/determine-whether-each-function-is-onetoone-if-it-is-find-the", "description": "Determine whether each function is one-to-one. 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The following information relates to production", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/-1781709" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } } }