A company started a new product, and in the first month started 90,000 units. The ending work in process inventory was 15,000 units that were 100% complete with materials and75% complete with conversion costs. There were 90,000 units to account for, and the equivalent units for materials was $5 per unit while the equivalent units for conversion was $6per unit. What is the value of the inventory transferred out, using the weighted-average inventory method?Cost of inventory transferred $FeedbackV Check My WorkDetermine the amount complete and transferred. Then, apply the cost of the units transferred times the completed and transferred amount of units to determine the total costof inventory transferred. A company has 2,000 units in ending work in process that are 40% complete after transferring out 12,000 units. All materials are added at the beginning of the process. If the cost perunit 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 outEnding work in process inventory $

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A company started a new product, and in the first month started 90,000 units. The ending work in process inventory was 15,000 units that were 100O% complete with materials and 75% complete with conversion costs. There were 90,000 units to account for, and the equivalent units for materials was $5 per unit while the equivalent units for conversion was $6 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method? Cost of inventory transferred s

A company started a new product, and in the first month started 90,000 units. The ending work in process inventory was 15,000 units that were 100O% complete with materials and 75% complete with conversion costs. There were 90,000 units to account for, and the equivalent units for materials was $5 per unit while the equivalent units for conversion was $6 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method? Cost of inventory transferred s

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2EA: A company started a new product, and in the first month started 100,000 units. The ending work in...

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Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units; 55,000 units were started in production; and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are added at the beginning of the process, and the units are 35% complete with respect to conversion.
Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units, 55,000 units were started in production, and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are 70% complete and the Units are 30% complete with respect to conversion.
How many units must be in ending inventory if beginning inventory was 15,000 units, 55,000 Units were started, and 57,000 units were completed and transferred out?
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