Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

XYZ Company operates two departments, the assembly department and the finishing department, and employs a weighted average process costing system. During June, the assembly department

XYZ Company operates two departments, the assembly department and the finishing department, and employs a weighted average process costing system. During June, the assembly department reported the following information: units % complete DM % complete conversion work in process, June 1 35,000 62% 47% units completed during June 62,000 work in process, June 30 ? 26% 19% The cost of beginning work in process and the costs added during June were as follows: DM Conversion work in process, June 1 $36,106 $117,389 costs added during June ? 452,485 For June, XYZ Company reported a conversion unit cost of $7.40 and the work in process account balance at June 30 was calculated to be $248,692. Calculate the direct material cost that was added during the month of June. 

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

HRD Score Card 2500 Based On HRD Audit

Authors: T V Rao

1st Edition

8178298368, 978-8178298368

More Books

Students also viewed these Accounting questions

Question

Evaluate the importance of the employee handbook.

Answered: 1 week ago

Question

Discuss the steps in the progressive discipline approach.

Answered: 1 week ago