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
icon
Related questions
Question
34
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
65%
Conversion costs
$8,100
45%
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 the
first processing department during the month:
Cost
Materials costs
$126,800
$208,300
Conversion costs
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?
Transcribed Image Text: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 65% Conversion costs $8,100 45% 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 the first processing department during the month: Cost Materials costs $126,800 $208,300 Conversion costs 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?
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 Choice
8,460
7,200
1,260
10,800
Transcribed Image Text: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 Choice 8,460 7,200 1,260 10,800
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Market Efficiency
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education