A company has 1,400 units in ending work in process that are 20% complete after transferring out 11,000 units. All materials are added at the beginning of the process. If the cost per unit is $4 for materials and $8 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out 132,000 Ending work in process inventory $

A company has 1,400 units in ending work in process that are 20% complete after transferring out 11,000 units. All materials are added at the beginning of the process. If the cost per unit is $4 for materials and $8 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out 132,000 Ending work in process inventory $

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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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The Gasson Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 15,000 units. The ending work in process inventory is 100% complete with respect to materials and 70% complete with respect to labor and overhead. Costs per equivalent unit for the period are $3.10 for materials and $2.20 for labor and overhead. What is the balance of the ending work in process inventory account: a) $69,600 b) $46,000 c) $61,100 d) $79,500
Materials are added at the beginning of a production process, and ending work in process inventory is 40% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method. Costs to Account For Beginning inventory: materials $9,000 Beginning inventory: conversion 18,000 Direct material 41,000 Direct labor 74,000 Applied overhead 42,392 Total costs to account for $184,392 Units to ACcount For Beginning work in process 6,000 Units started into production 19,000 Transferred out 19,000 Production Cost Report Completed and transferred out Ending work in process Total units to account for 40% 100% Work in process completion percent Material Units Conversion Units Total Units Completed and transferred out Next Previous
A company has 1,300 units in ending work in process that are 30% complete after transferring out 12,000 units. All materials are added at the beginning of the process. If the cost per unit is $3 for materials and $6 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out $fill in the blank 1 Ending work in process inventory $fill in the blank 2
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