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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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