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 March, the assembly department

image text in transcribedimage text in transcribed

XYZ Company operates two departments, the assembly department and the finishing department, and employs a weighted average process costing system. During March, the assembly department reported the following information: The cost of beginning work in process and the costs added during March were as follows: Additional information is provided below: 1) The direct material cost per unit in March was $7.10. 2) The equivalent units with respect to conversion costs in March were 94,350 . 3) The cost of the work in process at March 31 was equal to $157,325. Calculate the cost of goods completed and transferred out during March. XYZ Company operates two departments, the assembly department and the finishing department, and employs a weighted average process costing system. During March, the assembly department reported the following information: The cost of beginning work in process and the costs added during March were as follows: Additional information is provided below: 1) The direct material cost per unit in March was $7.10. 2) The equivalent units with respect to conversion costs in March were 94,350 . 3) The cost of the work in process at March 31 was equal to $157,325. Calculate the percentage complete with respect to conversion costs for the 31,000 units in the March 31 work in process. In entering your answer in carmen, enter your answer as a number. For example, if your answer is 10\% simply enter 10. Do not enter your answer as a decimal (i.e., .15) or put the percentage symbol after your answer. Quiz scores will not be adjusted for failure to follow these directions

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_2

Step: 3

blur-text-image_3

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

Payroll Accounting

Authors: Bernard J. Bieg, Judith A. Toland

2013 edition

113396253X, 978-1133962533

More Books

Students also viewed these Accounting questions

Question

LO.4 Describe the tax research process.

Answered: 1 week ago

Question

State the importance of control

Answered: 1 week ago

Question

What are the functions of top management?

Answered: 1 week ago

Question

Bring out the limitations of planning.

Answered: 1 week ago

Question

Why should a business be socially responsible?

Answered: 1 week ago

Question

17. What were the objections made by opponents of the PPACA? LO24.6

Answered: 1 week ago