7. The Qabool Company uses the weighted average method in its process costing system. The company recorded 15,000 units for conversion costs on 1st January in a department, 20% complete with respect to conversion costs. During the month, 25,000 units were provided to the department to work on. There were 8,000 units work in process inventory by the end of January, 75% complete with respect to conversion costs. Total number of equivalent units in respect to conversion cost: A. 40,000 units B. 38,000 units C. 35,000 units D. 30,000 units

7. The Qabool Company uses the weighted average method in its process costing system. The company recorded 15,000 units for conversion costs on 1st January in a department, 20% complete with respect to conversion costs. During the month, 25,000 units were provided to the department to work on. There were 8,000 units work in process inventory by the end of January, 75% complete with respect to conversion costs. Total number of equivalent units in respect to conversion cost: A. 40,000 units B. 38,000 units C. 35,000 units D. 30,000 units

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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Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 12,000 units, 100% complete with respect to materials cost and 20% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $39,400. A total of 42,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $2.40 for materials and $4.50 for conversion costs. The total cost of the units completed and transferred out of the department was: a. b. C. d. $250,200 $289,800 $250,400 $189,000
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