Question
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted - average costing. Data for the Assembly Department for June 2020 are: Work in process, beginning inventory Direct materials (100% complete) Conversion costs (45% complete) Units started in June Work in process, ending inventory: Direct materials (100% complete) Conversion costs (75% complete) Costs for June 2020: Work in process, beginning inventory: Direct materials Conversion costs Direct materials costs added during June Conversion costs added during June 340 units 990 units 240 units $94,000 $139,000 $600,500 $401,500 What is the total amount debited to the Work-in-Process account during the month of June? OA. $1,141,000 B. $1,235,000 OC. $233,000 OD. $1,002,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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