Weighted-Average Method Gifford, Inc. produces a single model of a popular cell phone in large 3. quantities. A single cell phone moves through two departments, assembly and testing. The manufac- turing costs in the assembly department during March follow: Direct materials added $187,500 Conversion costs 165,410 $352,910 The assembly department has no beginning work-in-process inventory. During the month, it started 25,000 cell phones, but only 22,000 were fully completed and transferred to the testing depart- ment. All parts had been made and placed in the remaining 3,000 cell phones, but only 60 percent of the conversion had been completed. The company uses the weighted-average method of process costing to accumulate product costs.

Weighted-Average Method Gifford, Inc. produces a single model of a popular cell phone in large 3. quantities. A single cell phone moves through two departments, assembly and testing. The manufac- turing costs in the assembly department during March follow: Direct materials added $187,500 Conversion costs 165,410 $352,910 The assembly department has no beginning work-in-process inventory. During the month, it started 25,000 cell phones, but only 22,000 were fully completed and transferred to the testing depart- ment. All parts had been made and placed in the remaining 3,000 cell phones, but only 60 percent of the conversion had been completed. The company uses the weighted-average method of process costing to accumulate product costs.

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Description: Weighted-Average Method Gifford, Inc. produces a single model of a popular cell phone in largequantities. A single cell phone moves through two departments, assembly and testing. The manufac-turing costs in the assembly department during March follo

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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