13. New Image Sports uses a process-costing system. For MMarch, the company had theBeginning work-in-process inventory 1/ complete)Direct materials are placed into production at the beginning of the process. All spoilage is normaland is detected at the end of the process. Ending WIP is 60% completed as to conversion.following activitiesUnits placed in productionGood units completedEnding work-in-process inventoryCost of beginning work in processDireet material costs, currentConversion costs, current7.200 units28,800 units21,600 units12.000 units$ 6,000$21.600S14,400Other information:Equivalent UnitsBeginning work in processStarted and completedNormal spoilageWork in process, endingTotalConversion4,80014,4002,4007,20028,800Direct Materials14,4002,40012,00028,800$0.50S0.75Equivalent-unit costsTotal cost of good units completed and transferred out under FIFO method was:A) S 29,400B) S18,000C) SI1,400D) $8,400E) None of the above

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Description: 13. New Image Sports uses a process-costing system. For MMarch, the company had theBeginning work-in-process inventory 1/ complete)Direct materials are placed into production at the beginning of the process. All spoilage is normaland is detected at

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Direct materials are placed into production at the beginning of the process. All spoilage is normal and is detected at the end of the proceNS. Ending WIP is 60O% completed as to conversion. 13. New Image Sports uses a process eosting system. For March, the company had thhe Beginning work-in-process inventory (1/3 complete) following activities: Units placed in production Good units completed Ending work-in-process inventorry Cost of beginning work in process Direct material costs, current Conversion costs, current 7.200 units 28.NO0 units 21,600 units 12.000 units $ 6,000 $21.600 $14,400 Other information: Conversion 4,800 14,400 Equivalent Units Beginning work in process Started and completed Normal spoilage Work in process, ending Direct Materials 2,400 7,200 28,800 14,400 2,400 12,000 28,800 Total $0.50 SO.75 Equivalent-unit costs Total cost of good units completed and transferred out under FIF O method was: A) S 29,40o B) S18,000 C) S11,400 D) $8,400 E) None of the above

Direct materials are placed into production at the beginning of the process. All spoilage is normal and is detected at the end of the proceNS. Ending WIP is 60O% completed as to conversion. 13. New Image Sports uses a process eosting system. For March, the company had thhe Beginning work-in-process inventory (1/3 complete) following activities: Units placed in production Good units completed Ending work-in-process inventorry Cost of beginning work in process Direct material costs, current Conversion costs, current 7.200 units 28.NO0 units 21,600 units 12.000 units $ 6,000 $21.600 $14,400 Other information: Conversion 4,800 14,400 Equivalent Units Beginning work in process Started and completed Normal spoilage Work in process, ending Direct Materials 2,400 7,200 28,800 14,400 2,400 12,000 28,800 Total $0.50 SO.75 Equivalent-unit costs Total cost of good units completed and transferred out under FIF O method was: A) S 29,40o B) S18,000 C) S11,400 D) $8,400 E) None of the above

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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