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Weighty Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs Beginning Inventory 2.000
Weighty Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs Beginning Inventory 2.000 $106,000 $128,400 Started during the Current Period 21,000 $630,000 $1,125,600 Ending Inventory 3,000 All materials are added at the beginning of the production process, and conversion costs are added uniformly throughout the production process. The beginning inventory was 40% complete as to conversion, while the ending inventory was 30% completed for conversion purposes. 3. [Answer & Solving Process] If Weighty uses the weighted-average costing method, what is the total cost assigned to the units completed this period? (Do not round any intermediate calculations and round final answers to the nearest integer.) 1 $1,904,306 2 $1,840,000 3 $1,990,000 4 $2,116,000 5 $1,846,466 4. [Answer & Solving Process) If Weighty uses FIFO (First-in, First-Out) method, what is the total cost assigned to the units completed this period? (Do not round any intermediate calculations and round final answers to the nearest integer.) 1 $1,848,577 2 $1,867,395 3 $1,849,600 4 $1,615,200 6 $1,859,355
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