Oster Manufacturing uses a weighted-average process costing system and has the following costs and activity during October: Materials Conversion cost Total Beginning work-in-process Materials Conversion cost Total production costs - October $40,000 $32,500 $72,500 $700,000 $617,500 $1,317,500 Production completed 60,000 units Work-in-process, October 31 20,000 units All materials are introduced at the start of the manufacturing process, and conversion cost is incurred uniformly throughout production. Conversations with plant personnel reveal that, on average, month-end in-process inventory is 25% complete. Assuming no spoilage, how should Oster's October manufacturing cost be assigned? Production Completed = $1,155,000, Work-in-Process = $235,000. O Production Completed = $1,095,000, Work-in-Process = $222,500. O Production Completed = $1,283,077, Work-in-Process = $106,923. O Production Completed = $1,042,500, Work-in-Process = $347,500.

Oster Manufacturing uses a weighted-average process costing system and has the following costs and activity during October: Materials Conversion cost Total Beginning work-in-process Materials Conversion cost Total production costs - October $40,000 $32,500 $72,500 $700,000 $617,500 $1,317,500 Production completed 60,000 units Work-in-process, October 31 20,000 units All materials are introduced at the start of the manufacturing process, and conversion cost is incurred uniformly throughout production. Conversations with plant personnel reveal that, on average, month-end in-process inventory is 25% complete. Assuming no spoilage, how should Oster's October manufacturing cost be assigned? Production Completed = $1,155,000, Work-in-Process = $235,000. O Production Completed = $1,095,000, Work-in-Process = $222,500. O Production Completed = $1,283,077, Work-in-Process = $106,923. O Production Completed = $1,042,500, Work-in-Process = $347,500.

Name: Oster Manufacturing uses a weighted-average process costing system an
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Description: Oster Manufacturing uses a weighted-average process costing system and has the following costsand activity during October:MaterialsConversion costTotal Beginning work-in-processMaterialsConversion costTotal production costs - October$40,000$32,500$7

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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