Homework Answers
The correct option is $48,400.
Supporting calculations:
| Number of units in Ending Work-in Process Inventory (a) | 11,000 |
| Materials Per Unit (b) | $3.50 |
| Material cost in Ending Inventory (c = a*b) | $38,500 |
| Labor and Overhead cost per unit (d ) | $1.50 |
| Labor and Overhead cost in Ending Inventory (e = a*d) | $16,500 |
| Percentage of Completion (f) | 60% |
| Completed labor and overhead cost in Ending Inventory (g = e*f) | $9,900 |
| Balance of work-in process inventory (c + g) | $48,400 |
Therefore, balance in work-in process is $48,400.
Add Answer to:
The Gasson Company uses the weighted-average method in its process costing system. The company's ending work...
The Gasson Company uses the weighted-average method in its process costing system. The company's ending work...
The Gasson Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 20,000 units, The ending work in process inventory is 100% complete with respect to materials and 80% complete with respect to labor and overhead. If the costs per equivalent unit for the period $4.00 for the materials and $1.20 for labor and overhead, whatis the balance of the ending work in process inventory account would be: (Do not round...
Jimmy Corporation uses the weighted-average method in its process costing system. The ending work in process...
Jimmy Corporation uses the weighted-average method in its process costing system. The ending work in process inventory consists of 12,000 units. The ending work in process inventory is 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the cost per equivalent unit for the period is $4.10 for material and $1.30 for labor and overhead, what is the balance of the ending work in process inventory account would be
12. Stay Corporation uses the weighted-average method in its process costing system. The company's ending work...
12. Stay Corporation uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 8,000 units, 60% complete with respect to materials and 80% complete with respect to conversion costs. If the total cost in this inventory is $200,000 and if the cost for materials is $16 per equivalent unit for the period, the conversion cost per equivalent unit of the production for the period must be:
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only...
The Richmond Corporation uses the
weighted-average method in its process costing system. The company
has only a single processing department. The company's ending work
in process inventory on August 31 consisted of 20,600 units. The
units in the ending work in process inventory were 100% complete
with respect to materials and 60% complete with respect to labor
and overhead. If the cost per equivalent unit for August was $3.40
for materials and $4.90 for labor and overhead, the total cost...
The Richmond Company uses the weighted-average method in its process costing system. The company...
The Richmond Company uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending workin process inventory on August 31 consisted of 18,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60%complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the total costassigned to the...
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only...
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 20,600 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $3.40 for materials and $4.90 for labor and overhead, the total cost...
ABC Corporation uses the weighted-average method in its process costing system. The company has only a...
ABC Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the total cost assigned...
3. (2 points) Sarah Company uses the weighted average method in its process costing system. The...
3. (2 points) Sarah Company uses the weighted average method in its process costing system. The company's ending work in process inventory consists of 5,000 units, 80% complete with respect to materials and 50% complete with respect to labor and overhead. If the total dollar value of the ending inventory is $60,000 and the cost per equivalent unit for labor and overhead is $8.00, the cost per equivalent unit for materials must be: A. $5.00 B. $10.00 C. $8.00 D....
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only...
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 20,400 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $3.35 for materials and $4.85 for labor and overhead, the total cost...
Pureform, Inc., uses the weighted average method in its process costing system. It manufactures a product...
Pureform, Inc., uses the weighted average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Materials $ 61,600 $ Labor 15,700 Overhead $ 29,100 Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 59,000 559,000 580,000 38,000 $ 815, 215 $ 193,285 $ 359,015 The beginning work in process inventory...
The Richmond Corporation uses the
weighted-average method in its process costing system. The company
has only a single processing department. The company's ending work
in process inventory on August 31 consisted of 20,600 units. The
units in the ending work in process inventory were 100% complete
with respect to materials and 60% complete with respect to labor
and overhead. If the cost per equivalent unit for August was $3.40
for materials and $4.90 for labor and overhead, the total cost...
3. (2 points) Sarah Company uses the weighted average method in its process costing system. The company's ending work in process inventory consists of 5,000 units, 80% complete with respect to materials and 50% complete with respect to labor and overhead. If the total dollar value of the ending inventory is $60,000 and the cost per equivalent unit for labor and overhead is $8.00, the cost per equivalent unit for materials must be: A. $5.00 B. $10.00 C. $8.00 D....
Pureform, Inc., uses the weighted average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Materials $ 61,600 $ Labor 15,700 Overhead $ 29,100 Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 59,000 559,000 580,000 38,000 $ 815, 215 $ 193,285 $ 359,015 The beginning work in process inventory...
Most questions answered within 3 hours.
-
Need to do in Python? Can do in Javascript but not in Python
Write a function...
asked 13 minutes ago -
Industry: Telecommunications in India
Here, you need to discuss the sources of the growth pattern
and...
asked 1 hour ago -
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 3 hours ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 4 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 5 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 7 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 8 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 7 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 8 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 8 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 8 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 8 hours ago