Hawk Ltd. uses process costing in its fabricating department. At the beginning of October, it had 12,000 units in beginning work in process that were 40% complete with respect to conversion. During octoberit put 87,000 units into production and completed 89,000 good units. At oct 31, there were 3,000 units in ending work in process that were 70% complete with respect to conversion. Direct materials are added at the beginning of the process. Inspection occurs at the end of the process and normal spoilage is 6% of good output.<\/p>
<\/p>
Costs related to the beginning inventory were $36800 for direct materials and $28,600 for conversion costs. During the month the company issued $280,000 for direct materials and incurred $599,400 of conversation costs.<\/p>
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Use the FIFO method of process costing, the cost of ending work in process inventory is?<\/p>", "transcribed_text": "", "related_book": { "title": "Data Analysis And Decision Making", "isbn": "538476125, 978-0538476126", "edition": "4th Edition", "authors": "Christian Albright, Wayne Winston, Christopher Zappe", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/415.jpg", "uri": "\/textbooks\/data-analysis-and-decision-making-4th-edition-415", "see_more_uri": "" }, "free_related_book": { "isbn": "1498134645", "uri": "\/textbooks\/a-course-of-lectures-on-drawing-painting-and-engraving-1st-edition-978-1498134644-294559", "name": "A Course Of Lectures On Drawing Painting And Engraving", "edition": "1st Edition" }, "question_posted": "2024-06-28 08:14:48", "see_more_questions_link": "\/study-help\/questions\/business-business-communication-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/what-is-the-signicance-for-nancial-reporting-of-a-governments", "description": "What is the signicance for nancial reporting of a governments power to tax? How does it affect the governments overall scal strength?", "stars": 3 }, { "url": "\/study-help\/psychology\/explain-the-need-for-and-approaches-to-culturally-relevant-classroom-1984049", "description": "Explain the need for and approaches to culturally relevant classroom management.", "stars": 3 }, { "url": "\/ivanhoe-industries-is-calculating-its-cost-of-goods-manufactured-at", "description": "Ivanhoe Industries is calculating its Cost of Goods Manufactured at year- end. Ivanhoes accounting records show the following: The Raw Materials Inventory account had a be-ginning balance of $ 17,000...", "stars": 3 }, { "url": "\/study-help\/questions\/jennifer-is-single-and-has-the-following-income-and-expenses-9878372", "description": "Jennifer is single and has the following income and expenses: Salary $75,900 Interest income 5,400 Dividend income 9,500 Long-term capital gain 10,400 Short-term capital loss 14,200 Deductions for...", "stars": 3 }, { "url": "\/study-help\/questions\/sandhill-company-issued-2400000-of-10-10year-bonds-on-january-8942848", "description": "Sandhill Company issued $2,400,000 of 10%, 10-year bonds on January 1, 2017, at 103. Interest is payable semiannually on July 1 and January 1. Sandhill Company uses the effective-interest method of...", "stars": 3 }, { "url": "\/study-help\/questions\/level-2-modify-the-program-to-flash-your-initials-using-999699", "description": "Level 2: Modify the program to flash your initials using Morse code (See chart below). A \"dot\" would have the LED on for 100 ms and for a dash the LED would be on for 1000 mS", "stars": 3 }, { "url": "\/study-help\/questions\/online-course-foundations-of-mathematics-11-unit-4-sendin-assignment-1001404", "description": "On-Line Course Foundations of Mathematics 11 Unit 4 Send-In Assignment 7. A school graduation class wants to hire buses and vans for a trip to Jasper National Park. Each bus holds 40 students and 3...", "stars": 3 }, { "url": "\/study-help\/questions\/according-to-the-article-from-your-readings-this-week-titled-999721", "description": "According to the article from your readings this week titled Active Defense: Using Deception and Trickery to Defeat Cyber Adversaries, what is the name of MITRE's cybersecurity framework built to...", "stars": 3 }, { "url": "\/study-help\/questions\/iii-hw-73-question-1-of-4-1-point-1009443", "description": "III HW 7.3 Question 1 of 4 (1 point) | Question Attempt: 1 of Unlimited = 1 2 3 = 4 Manual Transmission Automobiles In a recent year, 6% of cars sold had a manual transmission. A random sample of...", "stars": 3 }, { "url": "\/study-help\/questions\/the-demand-for-echupetin47-is-very-stable-at-7900-units-1000553", "description": "The demand for E-Chupetin47 is very stable at 7900 units per month with virtually no variability. BabyGear pays $20 for each pacifier, and sells each unit for $35. The annual holding rate for these...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/i-need-to-describe-an-accounting-information-system-case-the-4270945", "next": "\/study-help\/questions\/i-have-attached-some-files-of-my-assignment-can-you-4270947" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Hawk Ltd. uses process costing in its fabricating department. At the beginning", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/hawk-ltd-uses-process-costing-in-its-fabricating-department-at-4270946" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }}