Question
At John & Mary Corp., 1,000 units were in beginning Work-in-Progress (WIP)-Grinding this period, and their status was 100% complete for Direct Materials (DM) and
At John & Mary Corp., 1,000 units were in beginning Work-in-Progress (WIP)-Grinding this period, and their status was 100% complete for Direct Materials (DM) and 30% complete for Conversion Costs (CC). A total of 4,000 more units were started and 4,500 total units were completed and transferred to WIP-Fermenting, leaving 500 units in ending inventory. The status of ending inventory was 100% complete for DM and 20% complete for CC. The company has reported the equivalent costs per unit for DM and CC as $0.50 and $0.70 respectively. Determine the total cost of units in ending WIP Inventory following the Weighted-Average method of costing.
| $320 | ||
| $340 | ||
| $460 | ||
| $540 |
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
