Pratt Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Pratt Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:
Material cost: 7,100 and 75% completed
Conversion Cost: 5,700 and 25% completed
A total of 8,100 units were started and 7,500 units were
transferred to the second processing department during the month.
The following costs were incurred in the first processing
department during the month:
Material Cost: 136,800
Conversion Cost: 322,400
The ending inventory was 80% complete with respect to materials and
75% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to
rounding error. In all cases, select the answer that is the closest
to the answer you computed. To reduce rounding error, carry out all
computations to at least three decimal places
How many units are in ending work in process inventory in the
first processing department at the end of the month?
A. 1,100
B. 900
C. 600
D. 7,600
Company for the month of May. The company uses the
weighted-average method in its process costing system.
Units Labor and Overhead Percentage Complete
WIP May 1st: 10,000 40%
Units Started 64,000
Transferred Out 60,000
WIP May 31st 14,000 70%
All materials are added at the beginning of the process. Material
is 100% complete.
The equivalent units for materials for the month of May
were:
A. 60,000 units
B. 74,000 units
C. 64,000 units
D. 69,800 units
Homework Answers
1) Ending work in process inventory = Beginning work in process+Unit started-Unit completed
= 500+8100-7500
Ending work in process inventory = 1100 Units
so answer is a) 1100
2) Equivalent unit of material = 60000+(14000*100%) = 74000
So answer is b) 74000 Units
Add Answer to:
Pratt Corporation uses the weighted-average method in its
process costing system. This month, the beginning inventory...
Atwich Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Atwich Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: Cost percent complete Material Cost $10,700 70% Conversion Cost $13,900 50% A total of 5,100 units were started and 4,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Annenbaum Corporation uses the
weighted-average method in its process costing system. This month,
the beginning inventory in the first processing department
consisted of 2,400 units. The costs and percentage completion of
these units in beginning inventory were: Cost Percent Complete
Materials costs $ 7,700 65% Conversion costs $ 8,800 45% A total of
10,500 units were started and 7,900 units were transferred to the
second processing department during the month. The following costs
were incurred in the first processing department...
Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 670 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $7,600 70% Conversion costs $6,600 15% A total of 9,800 units were started and 8,350 units were transferred to the second processing department during the month. The following costs were incurred in...
Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 630 units. The costs and percentage completion of these units in beginning inventory were Percent Complete Cost 75% $7.200 Materials costs 15% $6,200 Conversion costs A total of 9,400 units were started and 8,150 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the...
Dodd Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Dodd Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs.......... $7,500 75% Conversion costs...... $4,000 45% A total of 5,400 units were started and 4,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 900 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 6,000 50% Conversion costs $ 2,200 20% A total of 7,300 units were started and 6,600 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,100 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 6,200 50% Conversion costs $ 2,400 20% A total of 7,500 units were started and 6,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,500 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 6,800 65% Conversion costs $ 7,900 45% A total of 8,700 units were started and 7,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,400 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 7,500 50% Conversion costs $ 3,700 20% A total of 8,800 units were started and 8,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,100 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete 50% 20% Cost $6,200 $2,400 Materials costs Conversion costs A total of 7,500 units were started and 6,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the...
Annenbaum Corporation uses the
weighted-average method in its process costing system. This month,
the beginning inventory in the first processing department
consisted of 2,400 units. The costs and percentage completion of
these units in beginning inventory were: Cost Percent Complete
Materials costs $ 7,700 65% Conversion costs $ 8,800 45% A total of
10,500 units were started and 7,900 units were transferred to the
second processing department during the month. The following costs
were incurred in the first processing department...
Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 630 units. The costs and percentage completion of these units in beginning inventory were Percent Complete Cost 75% $7.200 Materials costs 15% $6,200 Conversion costs A total of 9,400 units were started and 8,150 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,100 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete 50% 20% Cost $6,200 $2,400 Materials costs Conversion costs A total of 7,500 units were started and 6,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the...
Most questions answered within 3 hours.
-
In which direction the Reaction goes? Show detailed process.
SeO3 + 2ClO2. + 2H3O <---> Se...
asked 11 minutes ago -
Unexposed silver halides are removed from photographic film when
they react with sodium thiosulfate
(Na2S2O3, called...
asked 12 minutes ago -
A 0.3054 gram sample of the mineral chalcopyrite (CuFeS2)
yielded 0.6525 gram BaSO4 precipitate. What is...
asked 12 minutes ago -
An short-seller in Tesla is worried the latest management
earnings forecast is too aggressive and the...
asked 58 minutes ago -
Question 3 (1 point)
Fill in the blank. Speed Car Rental company found that the tire...
asked 58 minutes ago -
1. A copper wire is 26.61 cm long and weighs 1.265 g. The
density of copper...
asked 36 minutes ago -
Remember that a concept sketch consists of a sketch (or
series of sketches), labels, and complete...
asked 38 minutes ago -
on a newly discovered planet, the period of a pendulum with a
length of 2 m...
asked 40 minutes ago -
Why [M(CN)6] is not organometallic even it has metal
to carbon bond too
asked 46 minutes ago -
mstar electric has a bond issue outstanding that has a 20 year
life, a $1,000 par...
asked 54 minutes ago -
This is a Business Writing Question:
Common Types of Faulty Sentence Logic:
A. Mixed constructions
B....
asked 55 minutes ago -
Skinner asserts that science, and the common view of science, has
been tarnished. Explain his evidence...
asked 57 minutes ago