MegaRock produces quick setting concrete mix. Production of 208,820 tons was started in April, 196,120 tons...
MegaRock produces quick setting concrete mix. Production of 208,820 tons was started in April, 196,120 tons were completed. Material costs were $3,152,720 for the month while conversion costs were $594,600. There was no beginning work-in-process; the ending work-in-process was 70% complete. What is the cost of the product that was completed and transferred to finished goods? (Round your intermediate calculations to 2 decimal places.)
-
$2,973,720.
-
$3,717,150.
-
$3,531,310.
-
$3,585,074.
Homework Answers
| Units completed | 196120 | |
| Ending work-in-process | 8890 | =(208820-196120)*70% |
| Equivalent units of production | 205010 | |
| Total costs | 3747320 | =3152720+594600 |
| Divide by Equivalent units of production | 205010 | |
| Cost per Equivalent unit of production | 18.28 | |
| Units completed | 196120 | |
| X Cost per Equivalent unit of production | 18.28 | |
| Cost of units completed and transferred to finished goods | 3585074 | |
| Option D $3,585,074 is correct |
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MegaRock produces quick setting concrete mix. Production of
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