1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Jet001 [13]
3 years ago
13

Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for

the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 1,500 Materials costs $ 7,900 Conversion costs $ 3,200 Percent complete with respect to materials 55 % Percent complete with respect to conversion 25 % Units started into production during the month 7,400 Units completed and transferred to the next department during the month 6,600 Materials costs added during the month $ 111,000 Conversion costs added during the month $ 84,100 Ending work in process inventory: Units in ending work in process inventory 2,300 Percent complete with respect to materials 70 % Percent complete with respect to conversion 55 % The total cost of units completed and transferred from the first processing department to the next processing department during the month is closest to
Business
1 answer:
Fittoniya [83]3 years ago
8 0

Answer:

$174,781.20

Explanation:

I will do the calculations in 3 stages. You won`t go wrong if you follow these.

  1. Equivalent Units
  2. Total Unit Cost
  3. Total Cost to be transferred to next department

<u>Calculation of Equivalent Units of Production with respect to Raw Materials and Conversion Costs</u>

1. Raw Materials

Ending Work In Process Inventory (2,300 × 70 %)                          =  1,610

Completed and Transferred to Finished Goods (6,600 × 100%)   = 6,600

Equivalent Units of Production with respect to Raw Materials       = 8,210

2. Conversion Costs

Ending Work In Process Inventory (2,300 × 55 %)                           = 1,265

Completed and Transferred to Finished Goods (6,600 × 100%)    = 6,600

Equivalent Units of Production with respect to Conversion Costs = 7,865

<u>Calculation of Total Unit Cost of Production with respect to Raw Materials and Conversion Costs.</u>

Unit Cost = Total Cost (Beginning + Current) ÷ Total Equivalent Units

1. Materials

Unit Cost = ( $ 7,900 + $ 111,000) ÷ 8,210

                = $14.482 (3 decimal places)

2. Conversion Cost

Unit Cost = ( $ 3,200 + $ 84,100) ÷ 7,865

                = $12.00 (3 decimal places)

3. Total Unit Cost

Total Unit Cost = Materials + Conversion Costs

                         = $14.482 + $12.00

                         = $ 26.482

<u>Calculation of total cost of units completed and transferred from the first processing department to the next processing department</u>

Total Cost = Units Completed and Transferred × Total Unit Cost

                 = 6,600 × $ 26.482

                 = $174,781.20

You might be interested in
One disadvantage of a sole proprietorship as a form of business organization is that: a. owners of sole proprietorships generall
VladimirAG [237]

Answer:

<u>e. owners of sole proprietorships can lose all their personal assets if the business is sued or fails.</u>

Explanation:

<em>Remember</em>, in a sole proprietorship form of business ownership, the owner's personal assets are not usually separated from the business since the business isn't viewed as a separate legal entity.

Hence, in a case where the business incurs liability or sued/fails, <u>the owner's personal assets can be targeted in the lawsuit and may lead to loss of </u><u>all their personal assets.</u>

3 0
2 years ago
A politician says, "We could help low-wage workers by offering them tax credits like the earned income tax credit, but it would
Tpy6a [65]

Answer:

gjvhjjhjbkhvgjvjvcgghv  mjnvjhviyhvjvbhjvgkuvjcj

Explanation:

8 0
2 years ago
What type of skilled human resources do you like to be in future why​
Delicious77 [7]

Answer:

future of HR will be about delivering three things to the organization. Efficient and effective human capital processes— streamlining, standardizing, and integrating talent management processes across the organization (recruiting, training, performance management, rewards, and retention).

Explanation:

3 0
3 years ago
Spice sells paprika for $9.00 per bottle. Variable cost is $2.43 per bottle and Spice's annual fixed costs are $825,000. The var
yKpoI14uk [10]

The variable expense ratio for paprika is 27%.

<h3>Variable expense ratio</h3>

Using this formula

Variable expense ratio=Variable cost/Selling price

Where:

Variable cost=$2.43

Selling price=$9

Let plug in the formula

Variable expense ratio=2.43/9×100

Variable expense ratio=27%

Inconclusion the variable expense ratio for paprika is 27%.

Learn more about variable expense ratio here:brainly.com/question/15684424

5 0
2 years ago
At what percentage of credit card usage, does it start affecting your score in a negative way?​
cluponka [151]

Answer:

3%

Explanation:

ratio of 80 or 90 percent or more highly negative impact on your credit score.

4 0
3 years ago
Other questions:
  • _____ is granted by suppliers when they ship materials, parts, or goods to a firm without requiring immediate payment.
    13·1 answer
  • Mary exchanged an office building used in her business for some land. Mary originally purchased the building for $45,000, and it
    9·1 answer
  • Fun, Incorporated, a major gaming software company, is experiencing conflict between theyoung Internet-savvy employees who desig
    13·1 answer
  • 2) Food bill before tax: $80<br>Sales tax: 7.9% Tip: 20%​
    14·1 answer
  • "other things being​ equal, which market structure would produce the least output and the highest average product​ price
    5·1 answer
  • All of the following components are commonly found in a rental housing agreements except
    7·2 answers
  • I NEED HELP NOW PLEASE CAN SOME BODY HELO BY 9:20 OTHER WISE YOU WILL NOT GET THE BRAINLY CROWN
    9·1 answer
  • Find a current news article (within one week) related to business or technology. Your article can be from a newspaper, the
    13·1 answer
  • Explain what type of business would fall under a partnership ???
    6·1 answer
  • The aggregate demand curve shows a _____ relationship between _____ and _____ at a given spending growth.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!