Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bettie Corporation uses a weighted-average process costing system to collect costs related to production. The following selected information relates to production for October: Materials Conversion

Bettie Corporation uses a weighted-average process costing system to collect costs related to production. The following selected information relates to production for October:

Materials Conversion
Units completed and transferred out 50,000 50,000
Equivalent units: work in process, October 31 10,000 4,000
Total equivalent units 60,000 54,000

Materials Conversion
Costs in work in process on October 1 $ 9,000 $ 5,400
Costs added to production during October 243,000 513,000
Total cost $ 252,000 $ 518,400

All materials at Bettie are added at the beginning of the production process.

What total amount of cost should be assigned to the units completed and transferred out during October?

Multiple Choice

$677,500

$642,000

$691,900

$690,000

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

Audit Planning A Risk Based Approach

Authors: K. H. Spencer Pickett

1st Edition

047169052X, 978-0471690528

More Books

Students also viewed these Accounting questions