Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A Weighted Average Question to use the information below: Each product must pass through the Assembly Department and the Testing Department. The Tock Clock Company

A Weighted Average Question to use the information below: Each product must pass through the Assembly Department and the Testing Department. The Tock Clock Company manufactures a single type of clock on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Tock Clock Company uses weighted-average costing.

Data for assembly Department for June 2020 are;

Work in process, beginning inventory 250 units

Direct materials(100% complete)

Conversion costs(50% complete)

Units started during June 800 units

Work in process, ending inventory 150 units

Direct materials(100% complete)

Conversion costs(75% complete)

Costs for June 2020;

Work in process, beginning inventory ;

Direct materials 90,000

Conversion costs 135,000

Direct materials costs added during June. 500,000

Conversion costs added during June 500,000

If Tock uses the weighted-average method, what was the number of units completed and transferred out during this period (June 2020)?

1,050 units

1,012.5 units

962 units

900 units

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

Accounting Best Practices

Authors: Steven M Bragg

7th Edition

1118404149, 9781118404140

More Books

Students also viewed these Accounting questions

Question

What is a millage rate? How is it determined?

Answered: 1 week ago

Question

Do not get married, wait until I come, etc.

Answered: 1 week ago

Question

Do not come to the conclusion too quickly

Answered: 1 week ago

Question

Engage everyone in the dialogue

Answered: 1 week ago