Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Calculimit Corp. manufactures calculators. Its first processing department had a beginning work in process inventory of 2,000 units during a period. It started an additional

Calculimit Corp. manufactures calculators. Its first processing department had a beginning work in process inventory of 2,000 units during a period. It started an additional 10,000 units into production, but could complete only 9,000 units during the period. The ending work in process inventory is 70% complete with respect to conversion cost and 100% complete with respect to direct materials. The equivalent units in ending work in process inventory for conversion cost would be _____

drop item here

.

3,000 units

2,100 units

True Tents, Inc. makes camping tents, and has a beginning work in process inventory of 50 units valued at $2,400 for conversion costs. The additional conversion costs incurred during the period is $6,984 and started 100 units into production. The ending work in process inventory is 60 units, with the percentage of completion at 80% with respect to conversion. The equivalent cost per unit for conversion cost under the weighted-average method is ____

drop item here

.

68 per unit

78 per unit

The cleaning process of Komin Inc. has calculated its cost per equivalent unit for materials to be $800 and for conversion to be $300. Eighty units were transferred out of the cleaning department. So, the cost of units transferred out from the process is _____

drop item here

.

$64,000

$88,000

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

Modern Internal Auditing Appraising Operations And Controls

Authors: Victor Z. Brink, Herbert N. Witt

4th Edition

0471080977, 978-0471080978

More Books

Students also viewed these Accounting questions

Question

Are supply chains and value chains the same

Answered: 1 week ago