Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Leo company uses the weighted average method in its process costing system. The beginning work -in- progress inventories carried a total of $ 35,000,

The Leo company uses the weighted average method in its process costing system. The beginning work -in- progress inventories carried a total of $ 35,000, total material and conversion costs added during the month were $350,000 and $280,000 was assigned to completed units.The company ending work-in in progress inventory consisted 15000 units . The units in ending work in process inventory were 50% complete with respect to materials. If the cost per equivalent unit for the current period was $3.50 for materials and $8.75 for conversion cost, the ending work in progress percentage of completion with respect conversion bcost was closet to

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

Process Driven Comprehensive Auditing A New Way To Conduct ISO 9001 2008 Internal Audits

Authors: Paul C. Palmes

2nd Edition

0873897544, 978-0873897549

More Books

Students also viewed these Accounting questions

Question

What is the orientation toward time?

Answered: 1 week ago

Question

4. How is culture a contested site?

Answered: 1 week ago