Excellent Manufacturing uses a process cost system to manufacture sensors for the security industry. The following information pertains to operations for the month of March: Units Beginning work-in-process inventory, March 1 12,600 Started production during March 115,500 Completed production during March 92,400 Ending work-in-process inventory, March 31 35,700 The beginning inventory was 65% complete with respect to materials and 25% complete with respect to conversion costs. The ending inventory was 80% complete with respect to materials and 45% complete with respect to conversion costs. Costs pertaining to the month of March are as follows: Beginning inventory costs: materials = $46,200; conversion cost = $32,025 Costs incurred during March: materials used = $617,400; conversion cost = $655,200 Which of the following is the unit cost of materials calculated using the weighted average method? (Note: Round your answer to two decimal places.) a. $4.50 b. $5.49 c. $5.00 d. $5.46
Excellent Manufacturing uses a process cost system to manufacture sensors for the security industry. The following information pertains to operations for the month of March: Units Beginning work-in-process inventory, March 1 12,600 Started production during March 115,500 Completed production during March 92,400 Ending work-in-process inventory, March 31 35,700 The beginning inventory was 65% complete with respect to materials and 25% complete with respect to conversion costs. The ending inventory was 80% complete with respect to materials and 45% complete with respect to conversion costs. Costs pertaining to the month of March are as follows: Beginning inventory costs: materials = $46,200; conversion cost = $32,025 Costs incurred during March: materials used = $617,400; conversion cost = $655,200 Which of the following is the unit cost of materials calculated using the weighted average method? (Note: Round your answer to two decimal places.) a. $4.50 b. $5.49 c. $5.00 d. $5.46
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Excellent Manufacturing uses a process cost system to manufacture sensors for the security industry. The following information pertains to operations for the month of March:
|
|
Units |
|
Beginning work-in-process inventory, March 1 |
12,600 |
|
Started production during March |
115,500 |
|
Completed production during March |
92,400 |
|
Ending work-in-process inventory, March 31 |
35,700 |
The beginning inventory was 65% complete with respect to materials and 25% complete with respect to conversion costs. The ending inventory was 80% complete with respect to materials and 45% complete with respect to conversion costs.
Costs pertaining to the month of March are as follows:
Beginning inventory costs: materials = $46,200; conversion cost = $32,025
Costs incurred during March: materials used = $617,400; conversion cost = $655,200
Which of the following is the unit cost of materials calculated using the weighted average method? (Note: Round your answer to two decimal places.)
a.
$4.50
b.
$5.49
c.
$5.00
d.
$5.46
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