How much are the total costs assigned to ending inventory? Masterful Engineer Mozart Company's FinishingDepartment has materials cost at $4 per unit andconversion cost at $7 per unit. There are 12,000units in ending inventory, all of which are 80%complete as to conversion costs.How much are the total costs assigned to endinginventory?

Concept of Material Cost:Material cost refers to the expense incurred for raw materials that are…

Answered: Masterful Engineer Mozart Company's…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
A company has 1,500 units in ending work in process that are 30% complete after transferring out 10,000 units. All materials are added at the beginning of the process. If the cost per unit is $4 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?
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A company has 100 units in ending work in process that are 40% complete after transferring out 750 Units. If the cost per unit is $5 for materials and $2.50 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method?
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Masterful Engineer Mozart Company's Finishing Department has materials cost at $4 per unit and conversion cost at $7 per unit. There are 12,000 units in ending inventory, all of which are 80% complete as to conversion costs. How much are the total costs assigned to ending inventory?