Help me fast with detail explanation.Definitely I will give Upvote. Use the following information to answer question 5-7.Castle Company uses the weighted-average method in its process costing system. In theCutting Department in June, units were four-fifths complete with respect to conversion in thebeginning work in process inventory and one-third complete with respect to conversion in theending work in process inventory. Other data for the department for June follow:ConversionUnitsCostBeginning work in process inventory..Units started into production, and costs incurred during the month.Units completed and transferred out..25,000140,000$30,000S175,000135,0005. Ending work in process inventory consists of:A. 25,000 units.B. 30,000 units.C. 35,000 units.D. 40,000 units.6. The conversion cost per equivalent unit should be:A. $1.21B. $1.30C. $1.41D. $1.527. The conversion cost assigned to ending work in process inventory amounts to:A. $36,300B. $42,300C. $45,500D. $49,350

Under weighted average method of process costing is a costing method under which goods in beginning…

Use the following information to answer question 5-7. Castle Company uses the weighted-average method in its process costing system. In the Cutting Department in June, units were four-fifths complete with respect to conversion in the beginning work in process inventory and one-third complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: Units 25,000 140,000 Conversion Cost $30,000 S175,000 Beginning work in process inventory. Units started into production, and costs incurred during the month. Units completed and transferred out.. 135,000 5. Ending work in process inventory consists of: A. 25,000 units. B. 30,000 units. C. 35,000 units. D. 40,000 units. 6. The conversion cost per equivalent unit should be: A. $1.21 B. $1.30 C. $1.41 D. $1.52 7. The conversion cost assigned to ending work in process inventory amounts to: A. $36,300 B. $42,300 C. $45,500 D. $49,350

Use the following information to answer question 5-7. Castle Company uses the weighted-average method in its process costing system. In the Cutting Department in June, units were four-fifths complete with respect to conversion in the beginning work in process inventory and one-third complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: Units 25,000 140,000 Conversion Cost $30,000 S175,000 Beginning work in process inventory. Units started into production, and costs incurred during the month. Units completed and transferred out.. 135,000 5. Ending work in process inventory consists of: A. 25,000 units. B. 30,000 units. C. 35,000 units. D. 40,000 units. 6. The conversion cost per equivalent unit should be: A. $1.21 B. $1.30 C. $1.41 D. $1.52 7. The conversion cost assigned to ending work in process inventory amounts to: A. $36,300 B. $42,300 C. $45,500 D. $49,350

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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