Assume the following information: Milling Department Units Percent Complete Materials...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Assume the following information:
Milling Department
Units
Percent Complete
Materials
Conversion
Beginning work in process inventory
200
40%
30%
Units started into production during March
6,200
Units completed during the period and transferred to the next department
5,800
100%
100%
Ending work in process inventory
600
?%
60%
Milling Department
Materials
Conversion
Cost of beginning work in process inventory
$ 10,000
$ 15,000
Costs added during the period
290,000
385,000
Total cost
$ 300,000
$ 400,000
If the cost per equivalent unit for materials is $48.23 using the weighted-average method, then the percent complete with respect to the materials in ending work in process inventory is closest to:
A) 70%.
B) 40%.
C) 60%.
D) 50%.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
