Question
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 agoRelated Solutions
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