Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose Titon Sports uses the weighted average method. What is the amount of conversion cost assigned to the ending work in process? Group of answer

image text in transcribed

Suppose Titon Sports uses the weighted average method. What is the amount of conversion cost assigned to the ending work in process?

Group of answer choices

$17,862

$8,170

$12,658

$98,800

Suppose Titon Sports uses the FIFO method. What are the equivalent units for transferred-in costs during March?

Group of answer choices

39,000

56,000

52,000

73,500

Suppose Titon Sports uses the FIFO method. What is the direct material cost per equivalent unit during March?

Group of answer choices

0.38

0.54

1.31

0.50

Suppose Titon Sports uses the FIFO method. What is the total cost assigned to the ending work in process?

Group of answer choices

$63,020

$67,725

$75,286

$86,120

Suppose Titon Sports uses the FIFO method. What is the amount of conversion cost assigned to the units completed and transferred out during March?

Group of answer choices

$98,585

$78,568

$31,310

$48,762

Titon Sports, which produces footballs, has two departments: cutting and stitching. Footballs that have undergone the cutting process are immediately transferred to the stitching department. Direct material is added at the end of the stitching process. Conversion costs are added evenly during stitching operations. When those operations are done, the footballs are immediately transferred to Finished Goods. The following is a summary of the March 2019 operations of the stitching department: Physical Transferred-in Direct Conversion Units Costs Materials Costs 17,500 $ 45,360 $0 $ 17,660 100% 0% 60% 56,000 Beginning work in process Degree of Completion Transferred in during March 2019 Completed and transferred out during March 2019 Ending work in process Degree of Completion Total costs added during March 52,000 21,500 100% 0% 20% $ 154,560 $ 28,080 $89,310 Suppose Titon Sports uses the weighted average method. What are the equivalent units for direct material costs during 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

Auditing A Practical Approach With Data Analytics

Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton

2nd Edition

1119786045, 978-1119785996

More Books

Students also viewed these Accounting questions