Xtreme Sports makes baseball bats. The company buys wood as a directmaterial. The company's Shaping Department processes the bats, whichare transferred to the Coating Department where a sealant is applied. TheShaping Department began manufacturing 20,000 Babe Ruth sluggersduring the month of October. There was no beginning inventory.Costs in the Shaping Department for the month of October were:Direct materials $ 66,000Conversion costs 34,000Total $ 100,000A total of 16,000 bats were completed and transferred to the CoatingDepartment; the remaining 4,000 bats were still in the Shaping Process atthe end of the month. All of the Shaping Department's direct materialswere placed in process, but on average, only 25% of the conversion costwas applied to the ending work-in-process inventory.What is the cost of the work-in-process inventory in Xtreme Sports'Shaping Department at the end of October?Group of answer choices$15,200$5,200$25,000$34,000$21,200

Step 1: Calculate the equivalent units for direct materials:Direct materials: 20,000 (all units, as…

Answered: Xtreme Sports makes baseball bats. The…

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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A Chair Company manufactures a standard recliner. During February, the firm's Assembly Department started production of 75,000 chairs. During the month, the firm completed 85,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 15,000 chairs in ending inventory. All direct materials are added at the beginning of the production cycle. How many chairs were in inventory at the beginning of the month? Using weighted-average costing, what were the equivalent units for materials for February? Using FIFO costing, what were the equivalent units for direct materials for February? Using weighted average costing, what were the equivalent units for conversion costs for February if the beginning inventory was 70% complete as to conversion costs, and the ending inventory was 40% complete as to conversion costs?
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