Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Annebaum Corporation urses/62168/quizzes/217716/take Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted

image text in transcribed
Annebaum Corporation
urses/62168/quizzes/217716/take Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $ 5,700 65% Conversion costs $ 6,800 45% A total of 7500 units were started and 5,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 125,500 Conversion costs $ 207.000 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round your intermediate calculations to 3 decimal places.) $19.148 43175 $54,708 urses/62168/quizzes/217716/take Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $ 5,700 65% Conversion costs $ 6,800 45% A total of 7500 units were started and 5,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 125,500 Conversion costs $ 207.000 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round your intermediate calculations to 3 decimal places.) $19.148 43175 $54,708

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

Using Accounting & Financial InformationAnalyzing, Forecasting, And Decision Making

Authors: Mark S. Bettner

2nd Edition

1947098683, 9781947098688

More Books

Students also viewed these Accounting questions