Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is a summary of October 2020 testing department operations of Ommer company. Direct materials are added at 80% degree of completion. Conversion costs

image text in transcribed
The following is a summary of October 2020 testing department operations of Ommer company. Direct materials are added at 80% degree of completion. Conversion costs are added evenly during the process. Ommer company uses the weighted average method of process costing Transferred-in costs Direct materials Conversion $ cost $ costs$ Work-in-process, beginning 4,000 Zero 568 inventory(Aaprill) 50 units 50%completed Total costs added during April 14,000 6,720 4,400 Completed and transferred out during October 240 units Ending (October 31) 60 units, degree of completion 60% Calculate the cost of Ending balance and Finished Goods (transferred out units) Select one: a. $5.520 ending balance and $36.480 finished goods b. $1.560 ending balance and $10,320 finished goods C. $4.248 ending balance and $25.440 finished goods d. 52.760 ending balance and $18,240 finished goods e. $2.448 ending balance and $18,240 finished goods

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

Organizational Behavior Improving Performance And Commitment In The Workplace

Authors: Jason Colquitt

8th Edition

126412435X, 9781264124350

More Books

Students also viewed these Accounting questions

Question

3. How can we use information and communication to generate trust?

Answered: 1 week ago