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Fol Quizzes - ACCT7007 Managemer X *[Solved] WIP, beginning inventor X + - X C A fanshaweonline.ca/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d21?ou=1219443&ispry=&drc=0&qi=765058&cfql=08dnb=0&fromQB=0 M Midterm Exam F2021 X Time Limit: 2:05:00 Time Left:1:05:56 Meet Shah: Attempt 1 Page 1 Asmee Concept manufactures small tables in its Processing Department. Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to non-detectable Page 2 materials defects. Inspection occurs at the end of the process. Spoiled units generally constitute 5 percent of the good units. Data for December are as follows: 10,000 Page 3 WIP, Beginning inventory Dec 1 units Direct materials: 100% ( w complete Conversion costs: 75%% complete Page 4 40.000 started during December units Page 5: completed and transferred out 38,400 during month units WIP, ending inventory December 8,009 Page 6 units Direct materials: 100% complete Conversion costs: 05%% complete Costs: Page 7: WIP, beginning inventory Direct materials $50,000 Conversion costs 30.000 Direct materials added during Page B December 100.000 Conversion costs added during December 140,000 Page 9: What are the amounts of direct materials and conversion costs assigned to ending work-in-process using the weighted average process costing method? $22,900; $19,820 Page 10 $28,560; $14,160 10 $18,720; $24,000 $33.650; $14.140 $24,000; $18,720 Type here to search 9 X 4:32 AM 10/30/2021