Carter Company uses a weighted average process costing system. Material is added at the start of production. Dixie Company started 13,000 units into production and had 4,500 units in process at the start of the period that were 60 percent complete as to conversion costs. If Dixie transferred out 11,750 units, how many units were in ending Work in Process Inventory? 5,750 1,250 O 3,500 3,000

Carter Company uses a weighted average process costing system. Material is added at the start of production. Dixie Company started 13,000 units into production and had 4,500 units in process at the start of the period that were 60 percent complete as to conversion costs. If Dixie transferred out 11,750 units, how many units were in ending Work in Process Inventory? 5,750 1,250 O 3,500 3,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

3. compute the cost of the ending inventory of work in process ANSWER IN EXCEL FORM
In a process cost system, the amount of work in process inventory Is valued by Oa. multiplying units in ending inventory by the direct materials cost per unit Ob. finding the sum of all completed jobs Oc. allocating departmental costs between completed and partially completed units Od. finding the sum of all open job costs
A. Total manufacturing cost? B. Work in Process, 01/01/x1? C. Work in Process, 12/31/x1?
What are the two main inventory methods used in process costing? What are the differences between these methods?
e. What was the Work-in-Process f. What was the Work-in-Process Inventory on November 1? Inventory on November 30?
10-Identify the journal entry for abnormal wastage. a. Dr.Material inventory, Cr.Work in process inventory b. Dr.Costing profit and loss account, Cr.Work in process inventory c. Dr.Material inventory, Cr.Production overheads d. Dr.Production overheads, Cr.Work in process inventory
Which of the following statements is false? Multiple Choice Work in process inventory included in the balance sheet. Work process inventory includes direct materials used in production. Work in process inventory includes direct labor costs. Work in process inventory includes actual manufacturing overhead costs assigned to jobs worked on during the period.
How is activity-based cost allocation useful to management for control and evaluation of the performance of a department? List three points only and briefly discuss them. Why is it necessary for the cost accountant to determine the percentage of completion in the ending work in process inventory at the end of the period? Briefly explain.
What does it mean that manufacturing overhead is applied to inventory?
The appropriate cost accounting system to use when inventory items are produced on an assembly line is a. perpetual method. b. job-order costing. c. weighted average. d. process costing.
the costs transferred to finished goods inventory are called ?
A cost received by a subsequent process from a prior process is referred to as a: Select one: a. transferred-in cost. b. cost of goods transferred out. c. cost of ending work-in-process. d. cost of beginning work-in-process.