Questions 14 – 17 are based on the following Chen Company produces a product in a two-department process, Assembly and Finishing. The following information is available on their first department, Assembly: Beginning Work-in-process Units started Units completed and transferred to Finishing Ending Work-in-process Direct Material Added Direct Labour Factory Overhead Total cost to account for The units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs. -0- 200,000 168,000 32,000 $700,000 960,000 480,000 2,140,000 17. The total cost of ending work-in-process is: (A) $352,000 (B) $292,000 (C) $264,000 (D) $240,000
Questions 14 – 17 are based on the following Chen Company produces a product in a two-department process, Assembly and Finishing. The following information is available on their first department, Assembly: Beginning Work-in-process Units started Units completed and transferred to Finishing Ending Work-in-process Direct Material Added Direct Labour Factory Overhead Total cost to account for The units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs. -0- 200,000 168,000 32,000 $700,000 960,000 480,000 2,140,000 17. The total cost of ending work-in-process is: (A) $352,000 (B) $292,000 (C) $264,000 (D) $240,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Questions 14 – 17 are based on the following
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Chen Company produces a product in a two-department process, Assembly and Finishing. The following information is available on their first department, Assembly:
Beginning Work-in-process Units started Units completed and transferred to Finishing Ending Work-in-process
Direct Material Added Direct Labour Factory Total cost to account for
The units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs. |
-0- 200,000 168,000 32,000
$700,000 960,000 480,000 2,140,000 |
17. The total cost of ending work-in-process is:
(A) $352,000
(B) $292,000
(C) $264,000
(D) $240,000
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