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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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2 years ago
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vodomira [7]

Answer: benefits that satisfy needs

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3 0
3 years ago
Theory x in business
scoray [572]
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3 years ago
According to Fair Employment Laws, it is illegal to discriminate on the basis of _____. a. age b. race c. sex d. all of the abov
kirza4 [7]
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A piece of property bought by XYZ Corporation a few years ago was sold for $5 M. The cost basis for this property was $2.75 M. T
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Answer:

True

Explanation:

Data given in the question

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8 0
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