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Olin [163]
3 years ago
13

Colby Company has a process costing system in which the weighted-average method is used. The company adds all materials at the b

eginning of the process in the Molding Department, which is the first of two stages of its production process. Information concerning the materials used in the Molding Department during March is as follows:
Work in process at March 1: Units = 22,000; Material costs = $11,000
Units started during March: Units = 90,000; Materials costs = $46,120
Units completed and transferred to the next department during March: Units = 97,000

What was the materials cost of the work in process inventory at March 31?
$11,220
$7,500
$5,100
$7,650
Business
1 answer:
ivanzaharov [21]3 years ago
4 0

Answer:

$7,650

Explanation:

Ending work in progress = Beginning Work in progress + Units started - Units completed and transferred

= $22,000 + $90,000 - $97,000

= $15,000

Equivalent units = Units completed and transferred + Ending work in progress

= $97,000 + $15,000

= $112,000

Total cost = Material cost (Beginning) + Material cost during the month

= $11,000 + $46,100

= $57,100

Cost per equivalent unit = $57,100 ÷ $112,000

= $0.51

Materials cost of the work in process inventory at March 31 = Ending work in progress × Cost per equivalent unit

= $15,000 × $0.51

= $7,650

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The correct answer is "$54000".

Explanation:

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Hilary is a retired teacher who lives in Miami and does some consulting work for extra cash. At a wage of $50 per hour, she is w
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Answer:

Hilary is a retired teacher who lives in Miami and does some consulting work for extra cash. At a wage of $50 per hour, she is willing to work 10 hours per week. At $65 per hour, she is willing to work 19 hours per week.

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The diverse worldview is referred to as one of the OLI systems, in which OLI refers to possession, place, and internalization.

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