5424 units, 14. 3. World Class Stoaks is a meat-processing firm based in Texas. It has two departments: preparation (prep) and shipping For prep conversion costs are added evenly during the process, and direct materials are added at the beginning of the process. Spoiled units are detected upo inspection at the end of the prep process and are disposed of at zero net disposal value. All completed work is transferred to the shipping departmen Summary data for May follow: Data HE Page B Physical Units 7 200 Direct Materials 5 10.632 100% D Conversion Costa 52.773 50 80.000 49 200 10.080 1 World Class Steaks: Preparation (Prep) Department 2 Work in process beginning inventory (May 1) Degree of completion of beginning work in process Started during May 5 Good units completed and transferred out during May Work in process ending inventory (May 31 Degree of completion of ending work in process Tot costs added during May 9 Normal polage as a percentage of good units 10 Degree of completion of normal sportage Degree of completion of brormal spolage 100% $111.000 38064 10% 100% 100% 100% 100% How much is the total loss due to spoilage using the weighted average method? b. c d $27,324 $10,080 $10,350 $26,611 sine firm haeed in Texas. It has two departments, preparation (prep) and shipping. For the prep depart How much is the total loss due to spoilage using FIFO method? a $26,611 b. $10,350 $27,324 d. $10,080 uma amoll tables in its Processing Department Direct mate c. 3. World Class Steaks is a meat-processing firm based in Texas. It has two departments: preparation (prep) and shipping. For the prep department, conversion costs are added evenly during the process, and direct materials are added at the beginning of the process. Spoiled units are detected upon inspection at the end of the prep process and are disposed of at zero net disposal value. All completed work is transferred to the shipping department. Summary data for May follow: Page Pro Physical Unita 7200 Converse Cot Direct Materiale 5 10.632 100% SON 4 1 World Class Steaks Preparation (Prep) Department 2 Work in process beginning tory (May Degree of completion of beginning work in process Started during May Good una completed and wanted out ang May Work in process unding inventory (May 31) Degree of completion of ending work in POS Tot ce added during May 9 Norma spolage as a percentage of good unita 19 Degree completion ommal sporlage Lai u Degree of completion thermal spolage DOO 49 200 10.00 THANE 100% 111000 10 100 100 Soon TO How much is the total loss due to spoilage using the weighted average method? a. $27,324 b. $10,080 c. $10,350 d. $26,611 How much is the total loss due to spoilage using FIFO method? a. $26,611 b. $10,350 c. $27,324 d. $10.080 18-35 Weighted average method, spoilage. World Class Steaks is a meat-processing firm based in Texas. It operates under the weighted average method of process costing and has two departments: preparation (prep) and shipping. For the prep department, conversion costs are added evenly during the process, and direct materials are added at the beginning of the process. Spoiled units are detected upon inspection at the end of the prep process and are disposed of at zero net disposal value. All completed work is transferred to the shipping department. Summary data for May follow: Home Insert Formulas Page Layout A Data 1 D Conversion Costs $ 2,778 50% 3 World Class Steaks: Preparation (Prep) Department 2 Work in process, beginning inventory (May 1) Degree of completion of beginning work in process 4 Started during May 5 Good units completed and transferred out during May 6 Work in process, ending inventory (May 31) 7 Degree of completion of ending work in process 8 Total costs added during May 9 Normal spoilage as a percentage of good units 10 Degree of completion of normal spoilage 11 Degree of completion of abnormal spoilage Review View B Physical Direct Units Materials 7,200 $ 10,632 100% 60,000 49,200 10,080 100% $111,000 10% 100% 100% 25% $89,664 100% 100% How much is the total loss due to spoilage using the weighted average method? a. $27,324 b. $10,080 c. $10,350 d. $26,611 How much is the total loss due to spoilage using FIFO method? a. $26,611 b. $10,350 c. $27,324 d. $10.080