Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Carmelita Inc., has the following information available: Costs from Costs from Beginning Inventory Current Period Direct materials $5,700 $20,200 Conversion costs 6,800 155,800 At the

image text in transcribed
Carmelita Inc., has the following information available: Costs from Costs from Beginning Inventory Current Period Direct materials $5,700 $20,200 Conversion costs 6,800 155,800 At the beginning of the period, there were 400 units in process that were 40% complete as to conversion costs and 100% complete ar to direct materials costs. During the period, 5,500 units were started and completed. Ending inventory contained 400 units that were 33% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the Fifo process cost method, Round cost per unit figures to two cents, l.e., $2.22, when calculating total costs. The total costs that will be transferred into Finished Goods for units started and completed were a. 5176,764 b. $110,403 c. 5164,780 d. 5235,096 Previous Next

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

Principles of Auditing and Other Assurance Services

Authors: Ray Whittington, Kurt Pany

20th edition

77729145, 978-1259295430, 1259295435, 978-0077729141

More Books

Students also viewed these Accounting questions