Algoma Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs Beginning Inventory 200 $200,000. $ 200,000. Started During the Current Period 600 $ 2,000,000. $2,500,270. Ending Inventory 100 All materials are added at the beginning of the production process. Conversion costs are added evenly throughout the pm The beginning inventory was 40% complete of the process while the ending inventory was 30% complete. Algoma uses the weighted-average costing method. REQUIRED: What is the TOTAL cost assigned to the ending work in process inventory? Oa.$ 315,171. Ob.$ 385,970. Oc$ 276,157. d.$ 619,900.
Algoma Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs Beginning Inventory 200 $200,000. $ 200,000. Started During the Current Period 600 $ 2,000,000. $2,500,270. Ending Inventory 100 All materials are added at the beginning of the production process. Conversion costs are added evenly throughout the pm The beginning inventory was 40% complete of the process while the ending inventory was 30% complete. Algoma uses the weighted-average costing method. REQUIRED: What is the TOTAL cost assigned to the ending work in process inventory? Oa.$ 315,171. Ob.$ 385,970. Oc$ 276,157. d.$ 619,900.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Algoma Steel processes a single type of steel. For the current period the following information is given:
Units
Material Costs
Conversion Costs
Beginning Inventory
$ 200,000.
200
$ 200,000.
Started During the Current Period
600
$2,000,000.
$2,500,270.
Ending Inventory
100
All materials are added at the beginning of the production process. Conversion costs are added evenly throughout the process.
The beginning inventory was 40% complete of the process while the ending inventory was 30% complete.
Algoma uses the weighted-average costing method.
REQUIRED: What is the TOTAL cost assigned to the ending work in process inventory?
Oa.$ 315,171.
Ob.$ 385,970.
Oc$ 276,157.
d. $ 619,900.
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