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Answer 16 | |||||
Kennett Company | |||||
Started and completed in same month | |||||
Completed and transferred out | 690,000.00 | ||||
Less: Beginning work in process | 40,000.00 | ||||
Started and completed in same month | 650,000.00 | ||||
Physical Units | % completed | Equivalent Units | |||
Beginning work in process | 40,000.00 | 40% | 16,000.00 | ||
Started and completed in same month | 650,000.00 | 100% | 650,000.00 | ||
Ending work in process | 80,000.00 | 40% | 32,000.00 | ||
Total equivalent units | 698,000.00 | ||||
Answer is option b. | |||||
Answer 17 | |||||
Transferred to finished goods | |||||
Started into production | 100,000.00 | ||||
Less: Ending work in process | 8,000.00 | ||||
Transferred to finished goods | 92,000.00 | ||||
Equivalent Units | Note | ||||
Units | Physical Units | Materials | Conversion | Total | |
Transferred to finished goods | 92,000.00 | 92,000.00 | 92,000.00 | ||
Ending, Inventory in process | 8,000.00 | 8,000.00 | 3,200.00 | This is closing units multiplied by % of completion | |
Total units to be assigned costs: | 100,000.00 | 100,000.00 | 95,200.00 | ||
Cost Information | |||||
Costs incurred | 500,000.00 | 535,500.00 | 1,035,500.00 | ||
Costs per equivalent unit | 5.00 | 5.63 | |||
Costs assigned to production | |||||
Transferred to finished goods | 460,000.00 | 517,500.00 | 977,500.00 | ||
Answer is option b. $ 977,500. | |||||
Answer 18 | |||||
Answer is option d. | |||||
Answer 19 | |||||
Answer is option b. | |||||
Answer 20 | |||||
Answer is option a. |
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