MacroMin Co. uses a weighted average process costing system. The following data are for the production department for December. The December ending work-in-process Inventory was 80% complete with respect to both materials and conversion costs. The department completed and transferred 80,000 units. Work in process, beginning Units started into production Costs added in December Answer is complete and correct. $57.571.68 Ending inventory Required: 1. Calculate the cost of ending Inventory for December. (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Answer is not complete. Cost of product in ending inventory Ending inventory Units 6,400 2. Assume that the equivalent number of units processed for materials for December was 94,000. Calculate the number of units Introduced and the DM cost of product In ending Inventory for December? (Round your Intermediate calculation and final answer to 2 decimal places.) Answer is not complete. 88,000 units Materials Percentage Complete $ 11,000 (60%) $ 179,000 Conversion Percentage Complete $ 11,600 (60%) $ 164,380 3. Calculate the number of units in ending Inventory, assuming that 94,000 EUs were completed in December by the department.
MacroMin Co. uses a weighted average process costing system. The following data are for the production department for December. The December ending work-in-process Inventory was 80% complete with respect to both materials and conversion costs. The department completed and transferred 80,000 units. Work in process, beginning Units started into production Costs added in December Answer is complete and correct. $57.571.68 Ending inventory Required: 1. Calculate the cost of ending Inventory for December. (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Answer is not complete. Cost of product in ending inventory Ending inventory Units 6,400 2. Assume that the equivalent number of units processed for materials for December was 94,000. Calculate the number of units Introduced and the DM cost of product In ending Inventory for December? (Round your Intermediate calculation and final answer to 2 decimal places.) Answer is not complete. 88,000 units Materials Percentage Complete $ 11,000 (60%) $ 179,000 Conversion Percentage Complete $ 11,600 (60%) $ 164,380 3. Calculate the number of units in ending Inventory, assuming that 94,000 EUs were completed in December by the department.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:MacroMin Co. uses a weighted average process costing system. The following data are for the production department for December.
The December ending work-in-process Inventory was 80% complete with respect to both materials and conversion costs. The
department completed and transferred 80,000 units.
Work in process, beginning
Units started into production
Costs added in December
Answer is complete and correct.
Ending inventory $ 57.571.68
Answer is not complete.
Cost of product in ending inventory
Required:
1. Calculate the cost of ending Inventory for December. (Do not round Intermediate calculations and round your final answer to 2
decimal places.)
Units
X Answer is not complete.
Ending inventory
6,400
88,000
2. Assume that the equivalent number of units processed for materials for December was 94,000. Calculate the number of units
Introduced and the DM cost of product in ending Inventory for December? (Round your Intermediate calculation and final answer to
2 decimal places.)
units
Materials
Percentage
Complete
$ 11,000
(60%)
$ 179,000
Conversion
Percentage
Complete
$ 11,600
(60%)
$ 164,300
3. Calculate the number of units in ending Inventory, assuming that 94,000 EUs were completed in December by the department.
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