Margot Inc. produces thousands of gutters each year and uses the weighted-average method to allocate costs. The company has one department - welding. At the beginning of the period, the welding department had 8,000 gutters in process worth $21,000: $9,600 in direct materials and $11,400 in conversion costs. Gutters in Inventory at the beginning of the period were 35% complete with respect to direct materials and 65% complete with respect to conversion costs. The welding department spent $64,000 on direct materials and $85,000 on conversion costs this year, completing 47,000 gutters. Once the gutters are completed, they are transferred to the finished goods inventory to be shipped. At the end of the period, the welding department had 8,000 gutters in inventory, 60% complete with respect to direct material and 85% complete with respect to conversion costs. Using the weighted-average method, calculate the value of ending work-in-process and the cost of the completed units. I the box below, submit only the total value of the ending work-in-process units. Submit all work and answers vie email.

Margot Inc. produces thousands of gutters each year and uses the weighted-average method to allocate costs. The company has one department - welding. At the beginning of the period, the welding department had 8,000 gutters in process worth $21,000: $9,600 in direct materials and $11,400 in conversion costs. Gutters in Inventory at the beginning of the period were 35% complete with respect to direct materials and 65% complete with respect to conversion costs. The welding department spent $64,000 on direct materials and $85,000 on conversion costs this year, completing 47,000 gutters. Once the gutters are completed, they are transferred to the finished goods inventory to be shipped. At the end of the period, the welding department had 8,000 gutters in inventory, 60% complete with respect to direct material and 85% complete with respect to conversion costs. Using the weighted-average method, calculate the value of ending work-in-process and the cost of the completed units. I the box below, submit only the total value of the ending work-in-process units. Submit all work and answers vie email.

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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