Question
AAD company is reviewing the behavior of its various activities. AAD is considering various costs under process costing system.. Direct materials are added at the
AAD company is reviewing the behavior of its various activities. AAD is considering various costs under process costing system.. Direct materials are added at the beginning of the process and conversion activity occurs uniformly throughout the process. The following data pertain to the month of May. Units Total Direct Conversion cost Material
| Work in process, May 1 60% complete | 15,000 |
|
| Units started during May | 60,000 |
|
| Units sold during May | 7,000 |
|
Costs
| Work in process, May 1 | $41,250 | $16,500 | $24,750 |
| Costs incurred during May | 234,630 | 72,000 | 162,630 |
| Total | $275,880 | $88,500 | $187,380 |
Using the weighted average method of processing costing, calculate the cost of goods completed and transferred during May.
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Handbook Of Energy Audits
Authors: Albert Thumann, Terry Niehus, William J. Younger
7th Edition
1420067915, 978-1420067910
