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
Veseljchak [2.6K]
2 years ago
6

A company uses the weighted-average method for inventory costing. At the end of the period, 16,000 units were in the ending Work

in Process inventory and are 100% complete for materials and 71% complete for conversion. The equivalent costs per unit are materials, $2.61, and conversion $2.20. Compute the cost that would be assigned to the ending Work in Process inventory for the period.
Business
1 answer:
oee [108]2 years ago
7 0

Answer:

$66,752

Explanation:

The computation of ending Work in Process inventory is shown below:-

For Material = 16,000 × 100%

= 16,000

For conversion = 16,000 × 71%

= 11,360

Cost of ending inventory = (Material × Material cost per unit) + (Conversion × Conversion cost per unit)

= (16,000 × $2.61) + (11,360 × $2.20)

= $41,760 + $24,992

= $66,752

Therefore for computing the cost of ending inventory we simply applied the above formula.

You might be interested in
Your brother is starting 9th grade next year and is thinking about going to college. What steps would you recommend he take
Scrat [10]
He should try to maintain a high GPA because 9th grade is an important year
8 0
2 years ago
Read 2 more answers
Dawn graduated from high school and wants to get a credit card. how can dawn establish credit-worthiness?
yanalaym [24]
By keeping good credit
7 0
3 years ago
Mike's Motors Corp. manufactures motors for dirt bikes. The company requires a minimum $30,000 cash balance at each month-end. I
Lapatulllka [165]

Answer:

Mike's Motors Corp.

Cash Budget

                                             July             August        September

Beginning balance          $41,000          $30,000          $30,000

Cash receipts                   92,000            118,000           157,000

Total cash available      $133,000         $148,000        $187,000

Cash payments              120,000           106,900           134,400

Interest/Loan repayment                         11,100              6,602

Cash balance                    13,000            30,000            45,998

Cash to borrow                 17,000                      0               0

Minimum cash balance $30,000          $30,000          $30,000

Explanation:

a) Data and Calculations:

Minimum cash balance = $30,000

Interest rate on borrowings = 3% per month

Beginning cash balance = $41,000

Cash Budget

                                           July             August        September

Beginning balance        $41,000          $30,000          $30,000

Cash receipts                 92,000            118,000           157,000

Total cash available    $133,000         $148,000        $187,000

Cash payments            120,000           106,900           134,400

Interest/Loan repayment                         11,100              6,602

Cash balance                  13,000            30,000            45,998

Cash to borrow               17,000                      0               0

Minimum cash balance 30,000            30,000            30,000

Loan repayment:

In August:

Interest is paid =   $510 ($17,000 * 3%)

Loan is repaid = 10,590

Total paid =        $11,100

Balance of loan unpaid = $6,410 ($17,000 - 10,590)

In September:

Interest on loan = $192 ($6,410 * 3%)

Loan repaid =     6,602 ($6,410 + 192)

6 0
2 years ago
On February 20, services valued at $60,000 relating to the organization of a corporation were performed in exchange for 1,000 sh
Ganezh [65]

Answer:

Explanation:

The journal entry is shown below:

On February 20

Organization expense A/c Dr     $60,000

          To  Common Stock A/c $25,000       (1,000 shares × $25)

          To  Paid in capital in excess of par-Common Stock $35,000

(Being the organization expense is recorded and remaining balance is credited to the  Paid in capital in excess of par-Common Stock)

3 0
3 years ago
What tips should he follow? Check all that apply. Cross your arms in front of you. Stand with your hands in your pockets. Don’t
Marta_Voda [28]

Answer:

  • Don't Chew Gum
  • Listen Attentively
  • Sound Enthusiastic and Sincere
  • Use proper language and enunciate clearly

Explanation:

(Avoid Clarifying vague questions might be an answer but not sure. I'm sorry if I am wrong)

8 0
2 years ago
Other questions:
  • Respass Corporation has provided the following data concerning an investment project that it is considering: Initial investment
    10·1 answer
  • How krdia you have seen/used/participate in has depicted canada and how it has shaped your understanding and knowledge of the co
    6·1 answer
  • You are the manager of a firm that receives revenues of $40,000 per year from product X and $80,000 per year from product Y. The
    12·1 answer
  • Although you were not fortunate enough to get Chipper's Golf Resort stock [ticker symbol: CHPR] as an IPO, you are still thinkin
    5·1 answer
  • County governments in Texas:a.are single-purpose governments.b.all operate under the general laws of the state of Texas for the
    14·1 answer
  • The five forces model suggests that firms should target the industry with the highest potential for above-average returns and th
    5·1 answer
  • A pension fund has an average duration of its liabilities equal to 15 years. The fund is looking at 5-year maturity zero-coupon
    14·1 answer
  • arett Motors is trying to decide whether it should keep its existing car washing machine or purchase a new one that has technolo
    10·1 answer
  • A new machine can be purchased today for $450,000. The annual revenue from the machine is calculated to be $72,000, and the equi
    13·1 answer
  • C93, Inc. sells three products. Income statement information for the three products for the most recent year is given below: Pro
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!