The following information is available for Lima Corporation for the current year (SEE PICTURE BELOW): All materials are added at the start of production. What is the cost of units transferred out using weighted average? * Beginning Work in Process (75% complete) Started Ending Work in Process (60% complete) Abnormal spoilage Normal spoilage (continuous) Transferred out Costs of Beginning Work in Process: Material 14,500 units 75,000 units P25,100 50,000 Conversion Current Costs: Material 16,000 units 2,500 units 5,000 units P120,000 300,000 Conversion 66,000 units D 409,107 O 384,979 D 422,343 ) 414.144
The following information is available for Lima Corporation for the current year (SEE PICTURE BELOW): All materials are added at the start of production. What is the cost of units transferred out using weighted average? * Beginning Work in Process (75% complete) Started Ending Work in Process (60% complete) Abnormal spoilage Normal spoilage (continuous) Transferred out Costs of Beginning Work in Process: Material 14,500 units 75,000 units P25,100 50,000 Conversion Current Costs: Material 16,000 units 2,500 units 5,000 units P120,000 300,000 Conversion 66,000 units D 409,107 O 384,979 D 422,343 ) 414.144
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
QUESTION 50
Cost Accounting
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Transcribed Image Text:The following information is available for Lima Corporation for the current year (SEE PICTURE
BELOW):
All materials are added at the start of production. What is the cost of units transferred out
using weighted average? * O
Beginning Work in
Process
(75% complete)
Started
Costs of Beginning Work in Process:
Material
14,500 units
75,000 units
P25,100
50,000
Conversion
Ending Work in Process
(60% complete)
Abnormal spoilage
Normal spoilage
(continuous)
Transferred out
Current Costs:
16,000 units
2,500 units
Material
Conversion
P120,000
300,000
5,000 units
66,000 units
409,107
384,979
422,343
414,144
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