Question: Direct materials are added uniformly throughout a process. 6,000 units were 45% complete with respect to direct materials in beginning WIP. 5,000 Units in ending

Direct materials are added uniformly throughout a process. 6,000 units were

Direct materials are added uniformly throughout a process. 6,000 units were 45% complete with respect to direct materials in beginning WIP. 5,000 Units in ending WIP are 75% complete with respect to direct materials. Using the FIFO method, how much is the direct materials cost of units completed and transferred out? $244,746.24 $261,270.24 Cannot be determined from this information. $294,570.24

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Direct materials are added uniformly throughout a process. Direct materials cost, BWIP $41,000 Direct materials per equivalent unit $5.12 Ending WIP units 50,502 6,000 units were 45% complete with...

33. Direct materials are added uniformly throughout a process. Direct materials cost per equivalent unit = $5.12 Completed units = 50,502 6,000 units were 45% complete with respect to direct...

Direct materials are added uniformly throughout a process. Direct materials cost, BWIP $25,000 Direct materials per equivalent unit $3.97 Completed and transferred out units 25,950 7,500 units were...

A. Cost of goods sold and finished goods. B. Finished goods and goods in process. C. Goods in process, finished goods, and cost of goods sold. D. Goods in process. E. Raw materials, goods in process,...

Direct materials are added uniformly throughout a process Direct materials cost, BWIFP Direct materials per equivalent $36,000 $4.90 26,750 unit Completed units 7,500 units were 35% complete with...

Direct materials are added uniformly throughout a process. Direct materials cost, BWIP $36,000 Direct materials per equivalent unit $4.90 Completed units 26,750 7,500 units were 35% complete with...

Direct materials are added uniformly throughout the process. Direct materials cost, BWIP = $8,650 Direct materials per equivalent unit = $0.75 Completed units = 131,150 - 9,900 units were 60%...

1) Medina Corp. had the following information available for the year: Beginning inventory of goods in process (40% complete, $4,100) 500 units Ending inventory of goods in process (80% complete)...

ALL ANSWER IN A,B,C,D,E FORMAT EXCEPT TRUE AND FALSE QUESTION 1 A company allocates overhead to production on the basis of direct labor cost. If the company's total estimated overhead is $1,095,000...

I need the answers today. Thanks if you can help. 8. A department had 12,500 units which were 20% complete in beginning Goods in Process Inventory. During the current period 60,000 units were...

For each of the following six scenarios, state whether the value of the dollar will appreciate, depreciate, or remain the same relative to the Japanese yen. Explain each answer. Assume that exchange...

Red Dragon Ltd produces a single product at a variable cost per unit as follows: Direct labour Direct material Variable overhead 12 8 26 Each unit is sold on the market for $45. The normal activity...

All of the following are true about California's recording system except recording allows purchasers to rely upon recorded information regarding real property. Tocording thes constructhve matire to...

Which of the following are problems with identifying users of ABC? Multiple select question. ABC means different things to different organizations. Organizations will announce the discontinuance of...

In the Meteor case study, identify how Sarahs traditional approach could be enhanced by using technology in the recruitment process.

Compare and contrast the human resources profession with that of law and medicine in respect of characteristics such as professional knowledge, ethical considerations, local expertise required,...

Relate how process reengineering is used to review and redesign HRM practices. page 680