Assume the following information: Percent Complete Milling Department Units Materials Beginning work in process inventory 200 40% Conversion 30% Units started into production during March 6,200 Units completed during the period and transferred to the next department Ending work in process inventory 5,800 600 100% 70% 100% 60% Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 296,000 $ 306,000 Conversion $ 15,000 385,000 $ 400,000 Using the weighted-average method, the total cost of the ending work in process inventory with respect to materials is closest to: Multiple Choice о О $22,162. $21,162. $21,862.

Assume the following information: Percent Complete Milling Department Units Materials Beginning work in process inventory 200 40% Conversion 30% Units started into production during March 6,200 Units completed during the period and transferred to the next department Ending work in process inventory 5,800 600 100% 70% 100% 60% Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 296,000 $ 306,000 Conversion $ 15,000 385,000 $ 400,000 Using the weighted-average method, the total cost of the ending work in process inventory with respect to materials is closest to: Multiple Choice о О $22,162. $21,162. $21,862.

Name: Assume the following information:Milling DepartmentUnitsBeginning wor
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Description: Assume the following information:Milling DepartmentUnitsBeginning work in process inventory20040%Percent CompleteMaterialsConversion30%Units started into production during March6,200Units completed during the period and transferred to thenext depart

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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