Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q4: ABC Machine Co has assembly main production center and infirmary service center. Each machine parts assembled in main production center and the output of

image text in transcribed
Q4: ABC Machine Co has assembly main production center and infirmary service center. Each machine parts assembled in main production center and the output of this process is final product On March 1, 2020, there was 50 units of work in progress in the assembly department and 150 units started to assemble in March. During March 160 units of machine components assembled and finished. There was 40 units of semi-finished goods at the end of current month. The occurred costs are listed below. Company uses weighted average valuation method in ascertaining cost of inventory TL 550 Costs Cost of Beginning Inventory Direct Material Direct Labor Factory Overheads Cost of Current Period Direct Material Direct Labor Factory Overheads 400 50 100 2.340 1.500 280 560 Quantity Beginning Work in Progress Ending Work in Progress" Current Period's Pro Finished Goods Degree of completion of ending work in process * For Material 100%. For conversation costs 80% ** For Material 100%. For conversation costs 50% 50 units 40 units 150 units 160 units Required: Calculate the total and unit cost of finished and semi-finished goods of March

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

Beyond Agile Auditing Three Core Components To Revolutionize Your Internal Audit Practices

Authors: Clarissa Lucas

1st Edition

1950508676, 978-1950508679

More Books

Students also viewed these Accounting questions

Question

b. Did you suppress any of your anger? Explain.

Answered: 1 week ago