Units started Work in process, beginning (35% complete) Work in process, end (70% complete) Transferred out Work in process beginning costs: Materials Conversion 100,000 20,000 14,500 97,000 60,000 40,000 All materials are added at the start of the process. The company inspect goods at 75% completion as to conversion. The cost per EUP for the current month are P4 and P6 for materials and conversion costs, respectively. Normal spoilage is 3.5% of the current month input. Weighted average method is used. How much is the cost assigned to the transferred-out units?

Units started Work in process, beginning (35% complete) Work in process, end (70% complete) Transferred out Work in process beginning costs: Materials Conversion 100,000 20,000 14,500 97,000 60,000 40,000 All materials are added at the start of the process. The company inspect goods at 75% completion as to conversion. The cost per EUP for the current month are P4 and P6 for materials and conversion costs, respectively. Normal spoilage is 3.5% of the current month input. Weighted average method is used. How much is the cost assigned to the transferred-out units?

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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