esWeighty Steel processes a single type of steel. For the current period the following information is given:UnitsMaterial Costs Conversion Costs4,000$4,800$5,400Beginning InventoryStarted During the Current PeriodEnding Inventory20,20032,40078,7002,600All materials are added at the beginning of the production process. The beginning inventory was 40% complete as to conversion, while the ending inventory was35% completed for conversion purposes.ed:Weighty uses the weighted - average costing method.coreWhat is the total cost assigned to the units completed and transferred this period? (Round intermediary dollar amounts to the nearest cent and total costs to thenearest whole dollar.)missiA. $114,048O B. $115,235O C. $105,840-8 (1/1)2 (1/1O D. $121,300|-1 (1/1)1 (1/11-9а (1/1)-3 (1/12a (1/1)-11a (110a (1/1)

Total Equivalent Units with regard to Material = 24,200 Conversion = 22,510

Answered: Weighty Steel processes a single type…

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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For Tabik Corp, materials are added at the start of the process in Department B. Units received from Department A costs P11.10 while in Department B, unit costs for materials and conversion costs were P1 and P1.22 respectively. The company’s quantity data showed that WIP beg, which had a cost of P80,000, had 8,000 units and were ¾ done. During the period, Department A transferred 50,000 units to Department B. At the end of the period, WIP has 10,000 units which are 1/5 done and there were 3,000 lost units. What is the unit cost transferred to finished goods if the 3,000 units were lost at the end of processing but were considered abnormal?
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