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ginning work-in-process inventory ansferred in from the prior department during January mpleted and transferred to the next department during January ding work-in-process inventory Percent Complete with Respect to Units Conversion 7,800 90% 58,000 55,300 30% accounting records Indicate that the conversion cost that had been assigned to beginning work-in-process Inventory was $7,096 and a total of $92.668 in conversion costs wer was the cost per equivalent unit for conversion costs for January in the Shaping Department?

ginning work-in-process inventory ansferred in from the prior department during January mpleted and transferred to the next department during January ding work-in-process inventory Percent Complete with Respect to Units Conversion 7,800 90% 58,000 55,300 30% accounting records Indicate that the conversion cost that had been assigned to beginning work-in-process Inventory was $7,096 and a total of $92.668 in conversion costs wer was the cost per equivalent unit for conversion costs for January in the Shaping Department?

FINANCIAL ACCOUNTING
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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Holcomb Company uses the weighted-average method in its process costing system. The Shaping Department is the second department in its production process. The data below summarize the department's operations in January. Beginning work-in-process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work-in-process inventory Percent Complete with Units Respect to Conversion 7,800 90% 58,000 55,300 30% The accounting records Indicate that the conversion cost that had been assigned to beginning work-in-process Inventory was $7,096 and a total of $92,668 In conversion costs were incurred in the department during January. What was the cost per equivalent unit for conversion costs for January in the Shaping Department? Multiple Choice О C О $1.609 $1.707 $1.455 $1.464
Transcribed Image Text:Holcomb Company uses the weighted-average method in its process costing system. The Shaping Department is the second department in its production process. The data below summarize the department's operations in January. Beginning work-in-process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work-in-process inventory Percent Complete with Units Respect to Conversion 7,800 90% 58,000 55,300 30% The accounting records Indicate that the conversion cost that had been assigned to beginning work-in-process Inventory was $7,096 and a total of $92,668 In conversion costs were incurred in the department during January. What was the cost per equivalent unit for conversion costs for January in the Shaping Department? Multiple Choice О C О $1.609 $1.707 $1.455 $1.464
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