eridot Company's grinding department had the following data for the month of January:Production: Line Item Description Tons Units in process, January 1, 75% complete 16,000 tons Units completed and transferred out 39,000 tons Units in process, January 31, 50% complete 20,000 tons Costs: Line Item Description Amount Work in process, January 1 $6,235 Costs added during January $20,715 Determine the cost to be assigned to ending work-in-process (EWIP) using the weighted average method. (Note: Round the unit cost to two decimal places.) a. $9,534 b. $4,340 c. $5,500 d. $8,115
eridot Company's grinding department had the following data for the month of January:Production: Line Item Description Tons Units in process, January 1, 75% complete 16,000 tons Units completed and transferred out 39,000 tons Units in process, January 31, 50% complete 20,000 tons Costs: Line Item Description Amount Work in process, January 1 $6,235 Costs added during January $20,715 Determine the cost to be assigned to ending work-in-process (EWIP) using the weighted average method. (Note: Round the unit cost to two decimal places.) a. $9,534 b. $4,340 c. $5,500 d. $8,115
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
eridot Company's grinding department had the following data for the month of January:
Production:
Costs:
Determine the cost to be assigned to ending work-in-process (EWIP) using the weighted average method. (Note: Round the unit cost to two decimal places.)
Production:
| Line Item Description | Tons |
|---|---|
| Units in process, January 1, 75% complete | 16,000 tons |
| Units completed and transferred out | 39,000 tons |
| Units in process, January 31, 50% complete | 20,000 tons |
Costs:
| Line Item Description | Amount |
|---|---|
| Work in process, January 1 | $6,235 |
| Costs added during January | $20,715 |
Determine the cost to be assigned to ending work-in-process (EWIP) using the weighted average method. (Note: Round the unit cost to two decimal places.)
a. $9,534
b. $4,340
c. $5,500
d. $8,115
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