Albutte. Inc., which uses the weighted average method of process costing, has two depart ments: Production...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Albutte. Inc., which uses the weighted average method of process costing, has two depart ments: Production and Finishing. In the Finishing department, direct materials are added at the beginning of the process, and conversion costs are incurred evenly throughout the process. The Finishing department began December with 2,000 units in work-in-process inventory that were 40% complete and were valued at $10,000 ($8,000 in transferred in costs, $500 in direct materials, and $1,500 in conversion costs). During December, the Finishing department incurred $5,500 in direct materials costs and $12,500 in conver- sion costs. Eighteen thousand units costing $72,000 in the Production department were transferred into Finishing during the month. Fifteen thousand units were finished during December, 500 of which were spoiled (spoilage is normally 3% of good units). All unfin- ished units were 50% complete. Find the value of units completed and transferred out, ending work-in-process inventory. and the loss caused by abnormal spoilage for the Finishing department. Albutte. Inc., which uses the weighted average method of process costing, has two depart ments: Production and Finishing. In the Finishing department, direct materials are added at the beginning of the process, and conversion costs are incurred evenly throughout the process. The Finishing department began December with 2,000 units in work-in-process inventory that were 40% complete and were valued at $10,000 ($8,000 in transferred in costs, $500 in direct materials, and $1,500 in conversion costs). During December, the Finishing department incurred $5,500 in direct materials costs and $12,500 in conver- sion costs. Eighteen thousand units costing $72,000 in the Production department were transferred into Finishing during the month. Fifteen thousand units were finished during December, 500 of which were spoiled (spoilage is normally 3% of good units). All unfin- ished units were 50% complete. Find the value of units completed and transferred out, ending work-in-process inventory. and the loss caused by abnormal spoilage for the Finishing department.
Expert Answer:
Answer rating: 100% (QA)
Whole Transferred Direct Conversion Units Units In Materials Cost Beginning work in process ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The GGK Doll Company manufactures small vinyl dolls. In the Molding Department, the first department, the doll bodies are formed. Direct materials are added at the beginning of the process....
-
The Rally Company operates under a process cost system using the weighted average method. All direct materials are added at the beginning of production in the department, and conversion costs are...
-
The accountant at Cellular Advantage needs to close the books at the end of January using the following information. Direct materials are added at the start of production. Conversion costs are...
-
Which of the following best describes employees suppliers and governments? a.These are examples of organisational stakeholders. b.These are rarely considered in organisational behaviour theories....
-
Robert Eberle owns and manages Roberts Restaurant, a 24-hour restaurant near the citys medical complex. Robert employs 9 full-time employees and 16 part-time employees. He pays all of the full-time...
-
The light-initiated reaction of 2,3-dimethylbut-2-ene with N-bromosuccinimide (NBS) gives two products: (a) Give a mechanism for this reaction, showing how the two products arise as a consequence of...
-
How does an EIA statement add value for internal management?
-
1. Calculate the incremental, or marginal, cost per chair to LP of accepting the order from Southeast. 2. What assumptions did you make in calculating the incremental cost in Question 1? What...
-
Time left 0:46:04 Financial statement information is provided for the three years ending December 31, 2018, 2019 and 2020. December 31 2020 2019 2018 Cash 443,550 355,750 142,800 Accounts Receivable...
-
Chelsea Bush is an emerging candidate for her partys nomination for President of the United States. She now is considering whether to run in the high-stakes Super Tuesday primaries. If she enters the...
-
Your perception is influenced by many variables, such as age and physical and emotional well-being. You also see things through a cultural lens. Think of a situation where you or someone you know...
-
In a diploid species, complete nondisjunction during meiosis I may produce a viable cell that is a. trisomic. b. haploid. c. diploid. d. triploid.
-
Staining eukaryotic chromosomes is useful because it makes it possible to a. distinguish chromosomes that are similar in size and centromeric locations. b. identify changes in chromosome structure....
-
A mechanism that can produce a translocation is a. the joining of reactive ends when two different chromosomes break. b. crossing over between nonhomologous chromosomes. c. crossing over between...
-
A site in a chromosome where DNA replication begins is a. a promoter. b. an origin of replication. c. an operator. d. a replication fork.
-
A form of genetic transfer that involves the uptake of a fragment of DNA from the environment is called a. conjugation. b. transduction. c. transformation. d. all of the above.
-
(a) A test specimen data made of magnesium with 12-mm-diameter were collected (l. = 30.00 mm) and shown in Table 1. After fracture, the total length was extended to 32.61 mm and the diameter was...
-
For the next several days, take notes on your listening performance during at least a half-dozen situations in class, during social activities, and at work, if applicable. Referring to the traits of...
-
Refer to the information in QS 23-15. Compute the volume variance and identify it as favorable or unfavorable. Data From QS 23-15 AirPro Corp. reports the following for this period. Compute the (a)...
-
Prepare a December 31 trial balance for Jindal Co. using the following information and fill in the missing amount for Equipment (assume all data are correct). $ 8,000 Equipment. $_? Wages expense ....
-
Use the information below to prepare (a) Departmental income statements (b) The departmental contribution to overhead. Salaries are direct expenses, and all other expenses are indirect expenses. Food...
-
Evaluate Mephisto Products current approach to sales. Why has it been relatively successful to date?
-
What problems can you anticipate if Tony Bullins goes ahead and changes the sales team and selling philosophy?
-
How does the role of selling tend to differ between: (a) industrial products (B2B)? (b) consumer products (B2C)?
Study smarter with the SolutionInn App