Mara uses a weighted-average process costing. It had the following data in August.Beginning inventory, 60% complete10,000 unitsUnits completed50,000 unitsUnits in ending inventory, 40% complete5,000 unitsCost of beginning inventoryP105,000Current period production costsP831,000Compute for the cost transferred to finished goods

Equivalent units = Units completed and transferred + (Ending inventory x % of completion)…

Answered: Mara uses a weighted-average process…

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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A company has 1,900 units in ending work in process that are 30% complete after transferring out 12,000 units. All materials are added at the beginning of the process. If the cost per unit is $3 for materials and $7 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out Ending work in process inventory $
The following production and cost per EUP data are available for Vendome Corp for February: Units Completed during February 390,000 Units in ending inventory (100% complete as to direct material. 30% complete as to direct labor; 25% complete as to overhead) 55,500 Units completed during February 390,000 Direct Materials per EUP 7.50 Direct Labor per EUP 9 Overhead cost per unit 10.20 Use Weighted Average Method Questions: 1. What is the cost of the goods completed during February? 2. What is the cost of ending inventory at February 28? 3. What is the total cost to account for during February?
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory Units started in production Units finished during the period Units in process at the end of the period (complete as to materials, % complete as to labor and overhead) Cost of materials used Labor and overhead costs Total cost of the 16,400 units finished is: -0- 20,800 16,400 4,400 $39,780 $42,000
Saved Brody Corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred unformly throughout the process. Beglnning Inventory for January consisted of 1,250 units that were 75% completed. 10,000 units were started into the process during January. On January 31, the inventory consisted of 400 units that were 50% completed. What would be the equivalent units for direct materlals cost using the welghted average method? Multiple Cholce 11,250 10,600 10,300 10,000
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory 0 Units started in production 20,000 Units finished during the period 16,000 Units in process at the end of the period(complete as to materials, ¼ complete as to labor and overhead) 4,000 Cost of materials used $ 35,200 Labor and overhead costs $ 37,400 Total cost of the 16,000 units finished is: Multiple Choice $63,360. $67,320. $72,640. $65,120.
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Beginning inventory, 60% complete	10,000 units
Units completed	50,000 units
Units in ending inventory, 40% complete	5,000 units
Cost of beginning inventory	P105,000
Current period production costs	P831,000