Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. uses the weighted-average method in its process co

uses the weighted-average method in its process costing system. This month, the beginning inventory in...

50.1K

Verified Solution

Question

Accounting

uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 30,000 units. The costs and percentage completion of these units in beginning inventory were: Costs of Beginning Inventory & %-Complete

- Material $92,000 100%

- Conversion 58,000 60% A total of 420,000 units were started and 370,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: - Material Cost: $851,000

- Conversion Cost : 995,000 The ending inventory was 50% complete with respect to materials and 25% complete with respect to conversion costs.

Compute the following:

EU of Material ________________________

EU of Conversion ________________________

Cost per EU of Material ____________________

Cost per EU of Conversion __________________

Value of COGs Mfgd. (Transferred Out) ____________

What is the value of ending inventory and detail the proof of that amount.

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!
Become a Member

Other questions asked by students

Q

Adults around the world watch on average 4 hours of TV a day. A researcher thinks...

Statistics
Q

Identify the antagonist muscles that are activated during the following resistance training exercises: Lying neck flexion Lateral neck...

Medical Sciences
Q

Which chromosome pair for Homo sap

Biology
Q

If a mall security guard is under the guise of an average shopper what might...

Biology
Q

Plot the complex number Then write the complex number in polar form Express the argument...

Geometry
Q

After wildfires destroyed a portion of a national park, forest service biologists calculated the germination...

Basic Math
Q

Use a graphing calculator to graph the normal probability density function f x 1 o...

Statistics
Q

Question 1 (50 points) Flower Company was established on January 1, 2015. Along with other...

Accounting
Q

VOLS Inc. began its business operations on December 1, 2020. VOLS sells customized (with team's...

Accounting
Q

If both dividends and capital gains/losses form part of the return a shareholder will receive...

Accounting
Q

Question 1 Not yet answered Find Salomon v Salomon And Company, Limited (1897] AC 22....

Finance
Q

need max profit function Total Profit: P (Q) =...

Accounting