Question
Chapter 17 Submission ProblemABC Inc. uses a process costing system that has two direct materials cost categories (Material A and Material B) and one conversion
Chapter 17 Submission ProblemABC Inc. uses a process costing system that has two direct materials cost categories (Material A and Material B) and one conversion cost pool. The following data pertains to the assembly department for January 2017:
UnitsWork in process,
January 1 10,000 units
Units Started 90,000
Completed and Transferred Out85,000
Costs Beginning Inventory
Material B$84,000
Conversion Costs$25,000
Costs Current Period
Material A$272,000
Material B$216,000
Conversion Costs$167,675
Material A is introduced at the half-way point of operations and Material B is added at the beginning of the production process. Conversion costs are added evenly during the process. The ending WIP in the assembly department are 45% complete. The units in beginning WIP were 35% complete. Using weighted average and FIFO solve the problem above.
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