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nikdorinn [45]
3 years ago
13

25. A firm that uses weighted average process costing has 400 units in Beginning Inventory that are 80% complete. During the per

iod, an additional 8000 units are started. 600 units are left in Ending Inventory at the end of the period, which are 80% complete. Beginning Inventory has $11,080 allocated to it, and current costs are $80,000. All inputs are added simultaneously. Required: Calculate the costs allocated to Finished Goods and Ending Inventory.
Business
1 answer:
avanturin [10]3 years ago
3 0

Answer:

Finished goods = $85,800

Ending inventory = $5,280

Explanation:

beginning WIP 400 units

$11,080

8000 units started

$80,000

units finished and transferred out = 8,000 + 400 - 600 = 7,800

ending inventory 600 units

80% complete

equivalent units = 7,800 + (600 x 80%) = 8,280

total costs = $91,080

cost per equivalent unit = $91,080 / 8,280 = $11

Finished goods = 7,800 x $11 = $85,800

Ending inventory = 480 x $11 = $5,280

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3 years ago
m1 does include currency held inside bank vaults (non-circulating) as well as the checkable deposits of the federal reserve, the
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7 0
2 years ago
On May 1, Carlisle Co. sold inventory to a customer for $1,000 2/10, n/30. Carlisle Co. uses the gross method for reporting sale
igomit [66]

Answer:

The Net Sales that will reported on the Income Statement from these transactions is $1,000.

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5 0
3 years ago
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Answer:

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3 years ago
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