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 must
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 weightedaverage costing.
Data for the Assembly Department for June 2017 are: | ||
Work in process, beginning inventory | 360 units | |
Direct materials (100% complete) | ||
Conversion costs (45% complete) | ||
Units started during June | 980 units | |
Work in process, ending inventory: | 190 units | |
Direct materials (100% complete) | ||
Conversion costs (70% complete) | ||
Costs for June 2017: | ||
Work in process, beginning inventory: | ||
Direct materials | $90,500 | |
Conversion costs | $135,500 | |
Direct materials costs added during June | $601,500 | |
Conversion costs added during June | $401,500 |
What amount of direct materials costs is assigned to the ending WorkinProcess account for June? (Round intermediary calculations to the nearest whole dollar.)
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