Which of the following is correct? A. Conversion costs can be, but generally are not added...
Which of the following is correct?
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A. Conversion costs can be, but generally are not added 100% at the beginning of the process. |
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B. Direct materials will always be added 100% at the beginning of the process. |
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C. None of these statements are correct. |
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D. Transferred-in costs will always be 100% added at the beginning of the process. |
Homework Answers
Correct answer-------------D. Transferred-in costs will always be 100% added at the beginning of the process..
.
Transferred in cost is always 100% complete as the transferred in cost is finished goods of the transferee department. For example say molding department transfers goods to finishing department. The transferred goods that are finished goods for molding department are transferred in cost for finishing department.
Material cost is not always added in beginning, it can be added throughout the process or even at end of the process. Similarly it is not necessary that conversion cost is never 100% complete at beginning.
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Which of the following is correct?
A. Conversion costs can be, but generally are not added...
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At Panther Company, materials are added at the beginning of the process and conversion costs are added uniformly. Work in process, beginning: Number of units 9,000 Transferred-in costs $94,000 Direct materials (100%) $22,500 Conversion costs (75%) $25,400 Unitstransferred-in: Number of units 47,500 Transferred-in costs $640,500 Units completed 43,000 Costs during the period: Direct materials $155,475 Conversion costs $213,225 Work in process, ending: Number of units 13,500 (100% complete for materials and 35% complete for conversion) The total cost of units...
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for its production costs. Conversion cost is added evenly
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