Homework Help is Here – Start Your Trial Now!
Business
Accounting
Outose Concept manufactures small tables in its Processing Department Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to undetectable materials defects. Spoiled units generally constitute 5% of the good units. Data for December 2017 are as follows: WIP, beginning inventory 12/1/2017 Direct materials (100% complete) Conversion costs (70% complete) Started during December Completed and transfered out 12/31/2017 WIP, ending inventory 12/31/2017 Direct materials (100% complete) Conversion costs (60% complete) 22,300 units 76,400 units 72,900 units 19,000 units Costs for December WIP beginning inventory Direct materials Conversion costs Direct materials added Conversion costs added What cost is allocated to abnormal spolage using the weighted average process-costing method? (Round any cost per unit calculations to the nearest cent.) $156,000 77.200 224,400 299,000

Outose Concept manufactures small tables in its Processing Department Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to undetectable materials defects. Spoiled units generally constitute 5% of the good units. Data for December 2017 are as follows: WIP, beginning inventory 12/1/2017 Direct materials (100% complete) Conversion costs (70% complete) Started during December Completed and transfered out 12/31/2017 WIP, ending inventory 12/31/2017 Direct materials (100% complete) Conversion costs (60% complete) 22,300 units 76,400 units 72,900 units 19,000 units Costs for December WIP beginning inventory Direct materials Conversion costs Direct materials added Conversion costs added What cost is allocated to abnormal spolage using the weighted average process-costing method? (Round any cost per unit calculations to the nearest cent.) $156,000 77.200 224,400 299,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

6

Outos Concept manufactures small tables in its Processing Department Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to undetectable materials defects. Spolled units generally constitute 5% of the good units. Data for December 2017 are as follows: WIP, beginning inventory 12/1/2017 Direct materials (100% complete) Conversion costs (70% complete) Started during December Completed and transferred out 12/31/2017 WIP, ending inventory 12/31/2017 Direct materials (100% complete) Conversion costs (60% complete) 22,300 units OA $28,150 OB. $25,177 OC. $77,200. COD. $0 76,400 units 72,900 units 19,000 units Costs for December WIP beginning inventory: Direct materials Conversion costs Direct materials added Conversion costs added What cost is allocated to abnormal spoilage using the weighted-average process-oosting method? (Round any cost per unit calculations to the nearest cent) $156,000 77,200 224,400 299,000
Transcribed Image Text:Outos Concept manufactures small tables in its Processing Department Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to undetectable materials defects. Spolled units generally constitute 5% of the good units. Data for December 2017 are as follows: WIP, beginning inventory 12/1/2017 Direct materials (100% complete) Conversion costs (70% complete) Started during December Completed and transferred out 12/31/2017 WIP, ending inventory 12/31/2017 Direct materials (100% complete) Conversion costs (60% complete) 22,300 units OA $28,150 OB. $25,177 OC. $77,200. COD. $0 76,400 units 72,900 units 19,000 units Costs for December WIP beginning inventory: Direct materials Conversion costs Direct materials added Conversion costs added What cost is allocated to abnormal spoilage using the weighted-average process-oosting method? (Round any cost per unit calculations to the nearest cent) $156,000 77,200 224,400 299,000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Value Chain Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS