Question

In: Accounting

Williams uses a weighted-average process-costing system. All materials are added at the beginning of the process;...

Williams uses a weighted-average process-costing system. All materials are added at the beginning of the process; conversion costs are incurred evently throughout poduction. The company finished 150,000 units during the period and has 80,000 units in progress at year, the latter at the 40% stage of completion. Total materia costs amounted to $1,350,000; conversion costs were $1,600,000.

The cost of the ending work-in-process is:

Solutions

Expert Solution

Hi

Please let me know in case you face any issue. I am available for help:

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Williams uses a weighted-average process-costing system. All materials are added at the beginning of the process;...
Williams uses a weighted-average process-costing system. All materials are added at the beginning of the process; conversion costs are incurred evenly throughout production. The company finsihed 150,000 units during the period and has 80,000 units in progress at year-end, the latter at the 40% stage of completion. Total material costs amounted to $1,350,000; coversion costs were $1,600,000. The cost of the ending work-in process is?
Atlantic manufacturing company uses process costing. All materials are added at the beginning of the process....
Atlantic manufacturing company uses process costing. All materials are added at the beginning of the process. The company uses weighted average method in measuring unit costs. There are 100,000 units in the beginning work-in-process in the month of May (The company started its production in late April and did not finish producing any unit). The conversion work is 70% complete. The costs of beginning WIP are $1,250,000, including $100,000 of input of materials ($1 per EU), and $140,000 for labor...
Atlantic Manufacturing Company uses process costing. All materials are added at the beginning of the process....
Atlantic Manufacturing Company uses process costing. All materials are added at the beginning of the process. The normal spoilage rate is calculated as 10% of good units completed.   The cost of the beginning work-in-process in the month of May is $3,000,000, including $1,600,000 of input of materials, 100,000 units, and $1,400,000 for conversion costs. The beginning work-in-process is 70% complete.   During May, the input includes $7,400,000 for materials, 800,000 units started and $4,190,000 for conversion costs. There were 700,000 good...
Atlantic Manufacturing Company uses process costing. All materials are added at the beginning of the process....
Atlantic Manufacturing Company uses process costing. All materials are added at the beginning of the process. The normal spoilage rate is calculated as 10% of good units completed. The cost of the beginning work-in-process in the month of May is $3,000,000, including $1,600,000 of input of materials, 100,000 units, and $1,400,000 for conversion costs. The beginning work-in-process is 70% complete. During May, the input includes $7,400,000 for materials, 800,000 units started and $4,190,000 for conversion costs. There were 700,000 good...
Kool Inc. uses a weighted-average process costing system and has one production department. All materials are...
Kool Inc. uses a weighted-average process costing system and has one production department. All materials are introduced at the start of manufacturing; in contrast, conversion cost is incurred uniformly throughout production. The company had respective work in process inventories on 1 May and 31 May of 62,000 units and 70,000 units, the latter of which was 40 per cent complete. The production supervisor noted that Kool completed 100,000 units during the month. Costs in the 1 May work in process...
Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process...
Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 19,000 units, 100% complete with respect to materials cost and 30% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $25,600. A total of 55,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.80 for materials and $3.50...
Fedora, Inc, uses a weighted-average process-costing system andhas one production department. All materials are introduced...
Fedora, Inc, uses a weighted-average process-costing system and has one production department. All materials are introduced at the start of manufacturing; in contrast, conversion cost is incurred uniformly throughout production. The company had respective work-in-process inventories on May 1 and May 31 of 63,200 units and 76,000 units, the latter of which was 50% complete. The production supervisor noted that Fedora completed 112,000 units during the month.Costs in the May 1 work-in-process inventory were subdivided as follows: materials, $46,000; conversion,...
Fedora, Inc, uses a weighted-average process-costing system and has one production department. All materials are introduced...
Fedora, Inc, uses a weighted-average process-costing system and has one production department. All materials are introduced at the start of manufacturing; in contrast, conversion cost is incurred uniformly throughout production. The company had respective work-in-process inventories on May 1 and May 31 of 63,000 units and 75,000 units, the latter of which was 50% complete. The production supervisor noted that Fedora completed 110,000 units during the month. Costs in the May 1 work-in-process inventory were subdivided as follows: materials, $45,000;...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 20,000 Units finished during the period 16,000 Units in process at the end of the period (complete as to materials, ΒΌ complete as to labor and overhead) 4,000 Cost of materials used $ 35,200 Labor and overhead costs $ 37,400 Cost per equivalent unit of materials is: Multiple Choice $2.20. $2.07. $1.85. $1.76.
Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Gunes 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 $ 11,300 65% Conversion costs $ 13,500 30% A total of 9,200 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...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT