Answered step by step
Verified Expert Solution
Question
1 Approved Answer
GARAY Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must
GARAY Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. GARAY Inc. uses PROCESS COSTING [FIFO method). Data for the Assembly Department for June 2019 are: Work in process, beginning inventory 225 units Direct materials (100% complete) Conversion costs (60% complete) Units started during June 275 units Work in process, ending inventory: 100 units Direct materials (100% complete) Conversion costs (50% complete) Costs for June 2019: Work in process, beginning inventory: Direct materials $18,000 Conversion costs $8,100 Direct materials costs added during June $19,800 Conversion costs added during June $16,380 CALCULATE the costs of completed and transferred out in June? Please choose the best answer . . $52,000 B. $60,300 C. $60,280 OD. $91,280 O E. $70,000 OF. $52,480 G. $62,280 H. none of the other answers CALCULATE the cost per equivalent unit for material in June? Please choose the best answer A. $54.40 B. $100.00 C. $ - $72.00 D. $85.90 E. $75.60 F. none of the other answers G. $78.30 OH. $75.00 CALCULATE the total equivalent units for material costs in June? A. none of the answers O B.225 units OC. 500 units OD. 300 units O E. 150 units OF. 275 units O G. 175 units OH. 100 units
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started