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In: Accounting

Coming Home Corporation uses a weighted-average process costing system to collect costs related to production. The...

Coming Home Corporation uses a weighted-average process costing system to collect costs related to production. The following selected information relates to production for October:

Materials

Conversion

Units completed and transferred out

49,000

49,000

Equivalent units: work in process, October 31

11,000

5,000

Total equivalent units

60,000

54,000

Materials

Conversion

Costs in work in process on October 1

$

9,000

$

5,400

Costs added to production during October

243,000

513,000

Total cost

$

252,000

$

518,400

All materials at Coming Home are added at the beginning of the production process.

What total amount of cost should be assigned to the units completed and transferred out during October?

a.

$690,000
b.

$667,800
c.

$642,000
d.

$676,200

Solutions

Expert Solution

  • Correct Answer = Option ‘D’ $ 676,200

COST per EUP

Material

Conversion

Cost of Beginning WIP

$             9,000.00

$                                    5,400.00

Cost incurred during the period

$        243,000.00

$                                513,000.00

Total Costs

Costs

$        252,000.00

Costs

$                                518,400.00

Equivalent units of production

EUP

60,000

EUP

54,000

Cost per EUP

$              4.20000

$                                      9.60000

--Working

Cost of Units Transferred Out

EUP

Cost per EUP

Total Cost

- Direct Materials

49,000

$                      4.20

$        205,800.00

- Conversion

49,000

$                      9.60

$        470,400.00

Total Cost transferred Out

$            676,200.00

ekkarill92 answered 1 year ago
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