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Question content area top Part 1 At Global Tech Inc., direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: WIP beginning (50% for conversion) 22,200 units Units started 123, 500 units Units completed and transferred out 116,700 units WIP ending (60% for conversion) 29,000 units Beginning WIP direct materials $41,000 Beginning WIP conversion costs $28,500 Costs of materials added $393,100 Costs of conversion added $270, 125 What is the total cost of units completed and transferred out? (Round intermediate calculations to the nearest cent and the final answer to the nearest dollar.) Question content area bottom Part 1 A. $616,961 B. $549,933 C. $608,007 D. $642,977

Question content area top Part 1 At Global Tech Inc., direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: WIP beginning (50% for conversion) 22,200 units Units started 123, 500 units Units completed and transferred out 116,700 units WIP ending (60% for conversion) 29,000 units Beginning WIP direct materials $41,000 Beginning WIP conversion costs $28,500 Costs of materials added $393,100 Costs of conversion added $270, 125 What is the total cost of units completed and transferred out? (Round intermediate calculations to the nearest cent and the final answer to the nearest dollar.) Question content area bottom Part 1 A. $616,961 B. $549,933 C. $608,007 D. $642,977

FINANCIAL ACCOUNTING
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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Question content area top Part 1 At Global Tech Inc., direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: WIP beginning (50% for conversion) 22,200 units Units started 123, 500 units Units completed and transferred out 116,700 units WIP ending (60% for conversion) 29,000 units Beginning WIP direct materials $41,000 Beginning WIP conversion costs $28,500 Costs of materials added $393,100 Costs of conversion added $270, 125
Transcribed Image Text:Question content area top Part 1 At Global Tech Inc., direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: WIP beginning (50% for conversion) 22,200 units Units started 123, 500 units Units completed and transferred out 116,700 units WIP ending (60% for conversion) 29,000 units Beginning WIP direct materials $41,000 Beginning WIP conversion costs $28,500 Costs of materials added $393,100 Costs of conversion added $270, 125
What is the total cost of units completed and transferred out? (Round intermediate calculations to the nearest cent and the final answer to the nearest dollar.) Question content area bottom Part 1 A. $616,961 B. $549,933 C. $608,007 D. $642,977
Transcribed Image Text:What is the total cost of units completed and transferred out? (Round intermediate calculations to the nearest cent and the final answer to the nearest dollar.) Question content area bottom Part 1 A. $616,961 B. $549,933 C. $608,007 D. $642,977
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