Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hendrix, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July's activities: On July

Hendrix, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July's activities:
On July 1:
Beginning inventories =750 units, 60% complete
Direct materials cost =$5,925
Conversion costs =$4,095
During July: ,15,000 units started
Direct materials added =$150,000
Conversion costs added =$83,520
On July 31:
Ending inventories =1,500 units, 40% complete
Using the weighted average method, the cost of the goods completed and transferred out was
a) $225,150
b) $225,060
c) $213,300
d) $213,000
image text in transcribed

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

Oil And Gas Accounting

Authors: Steven M. Bragg

2nd Edition

1642210668, 9781642210668

More Books

Students also viewed these Accounting questions

Question

Can a direct access file be read sequentially? Explain.

Answered: 1 week ago

Question

Solve the following equation. 3 2x = 3 5x + 2

Answered: 1 week ago

Question

Write a Python program to check an input number is prime or not.

Answered: 1 week ago