34 Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing departmentconsisted of 1,700 units. The costs and percentage completion of these units in beginning inventory were:PercentCostCompleteMaterials costs$7,00065%Conversion costs$8,10045%A total of 9,100 units were started and 7,200 units were transferred to the second processing department during the month. The following costs were incurred in thefirst processing department during the month:CostMaterials costs$126,800$208,300Conversion costsThe ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.What are the equivalent units for conversion costs for the month in the first processing department? The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.What are the equivalent units for conversion costs for the month in the first processing department?Multiple Choice8,4607,2001,26010,800

Option (a) is the correct answer

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,700 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $7,000 $8,100 65% Conversion costs 45%

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,700 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $7,000 $8,100 65% Conversion costs 45%

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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