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17. Reed Manufacturing has recently tried to improve its analysis for their manufacturing process. Units started into production equalled 2,300 and ending Work in Process equalled 900 units. Reed had no beginning Work in Process inventory. Conversion costs are applied equally throughout production, and materials are applied at the beginning of the process. How much is the material cost per unit if ending Work in Process was 15% complete and total material costs equalled $11,500 if the weighted-average method is used, rounded to the nearest cent? a) $5.00 b) $8.21 c) $23.96 d) $33.33

17. Reed Manufacturing has recently tried to improve its analysis for their manufacturing process. Units started into production equalled 2,300 and ending Work in Process equalled 900 units. Reed had no beginning Work in Process inventory. Conversion costs are applied equally throughout production, and materials are applied at the beginning of the process. How much is the material cost per unit if ending Work in Process was 15% complete and total material costs equalled $11,500 if the weighted-average method is used, rounded to the nearest cent? a) $5.00 b) $8.21 c) $23.96 d) $33.33

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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17. Reed Manufacturing has recently tried to improve its analysis for their manufacturing process. Units started into production equalled 2,300 and ending Work in Process equalled 900 units. Reed had no beginning Work in Process inventory. Conversion costs are applied equally throughout production, and materials are applied at the beginning of the process. How much is the material cost per unit if ending Work in Process was 15% complete and total material costs equalled $11,500 if the weighted-average method is used, rounded to the nearest cent? a) $5.00 b) $8.21 c) $23.96 d) $33.33
Transcribed Image Text:17. Reed Manufacturing has recently tried to improve its analysis for their manufacturing process. Units started into production equalled 2,300 and ending Work in Process equalled 900 units. Reed had no beginning Work in Process inventory. Conversion costs are applied equally throughout production, and materials are applied at the beginning of the process. How much is the material cost per unit if ending Work in Process was 15% complete and total material costs equalled $11,500 if the weighted-average method is used, rounded to the nearest cent? a) $5.00 b) $8.21 c) $23.96 d) $33.33
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