Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company uses process costing. The following information pertains to the month of September: Cost per equivalent unit calculations for September: Cost per equivalent unit

A company uses process costing. The following information pertains to the month of September:

Cost per equivalent unit calculations for September:

Cost per equivalent unit for materials costs: $2.03 Cost per equivalent unit for conversion costs: $8.11

Physical inventory, September:

4,000 units in beginning workinprocess inventory 10,000 units started 12,000 units completed 2,000 units in ending workinprocess inventory

Ending Work-In-Process inventory is 24% complete with respect to materials costs and 42% complete with respect to conversion costs. How much cost should be assigned to ending finished goods inventory for the month of September? (Round all calculations to the nearest dollar and cents.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Carl S Warren, James M Reeve, Jonathan Duchac

12th Edition

0538478519, 9780538478519

More Books

Students also viewed these Accounting questions

Question

What is a data reader?

Answered: 1 week ago