Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The question is attached! Please, let me know if it's somethng that can be done by tomorrow night. Thanks a lot! SupplementaltQuiztontProcesstCosting Davy Metals assemble
The question is attached! Please, let me know if it's somethng that can be done by tomorrow night.
Thanks a lot!
Supplemental\tQuiz\ton\tProcess\tCosting Davy Metals assemble its product in several departments. It has two departments that process all units. During October, the beginning work in process in the Cutting Department was 50% completed as to conversion, and 100% complete as to direct materials. The beginning inventory included $11,500 for materials and $8,500 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials are added at the beginning of the process. Beginning work in process in the Finishing Department was 65% complete as to conversion. Direct materials are added at the end of the process. Beginning inventories included $10,000 for transferred-in costs and $30,000 for conversion costs. Ending inventory was 19% complete. (Tip: The transferred-in category of costs is always considered 100% complete.) Additional information about the two departments follows: Beginning work-in-process units Units started this period Units transferred-out this period Ending work-in-process units Material costs added Other conversion costs Cutting 20,000 40,000 50,000 10,000 $44,000 $60,000 Finishing 21,000 50,000 54,000 17,000 $25,000 $55,000 Required (Use Excel formulas to compute the solutions): 1. Using the weighted-average method for the Cutting Department and the FIFO method for the Finishing Department, a. b. c. 2. (5 points) What is the total cost of units transferred to the Finishing Department? (5 points) What is the total cost of units remaining in the Finishing Department? (5 points) What is the total cost of units completed in the Finishing Department? Submit your answer in a single Excel file to Canvas. EXCELLENCE\tWITH\tPERSEVERANCE\tAND\tINTEGRITYStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started