Question: Ending WIP inventory has 100 units that are 80% complete for direct materials and 30% complete for conversion costs. For calculating weighted-average costs per

Ending WIP inventory has 100 units that are 80% complete for direct materials and30% complete for conversion costs. For calc

Ending WIP inventory has 100 units that are 80% complete for direct materials and 30% complete for conversion costs. For calculating weighted-average costs per equivalent unit, which of the following statements is true? The denominator would include 80 units for direct materials and 30 for conversion The denominator would include 20 units for direct materials and 70 for conversion You cannot determine what constitutes the denominator The denominator would include 100 units for both.

Step by Step Solution

★★★★★

3.52 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Solution The correct answer is B The denominator would incl... View full answer

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!

The fish department of the local grocery store faces unique problems. Fish is extremely perishable and can only be sold on the day it arrives in the store. Fish is delivered at 3 am and can be sold...

Which of the following statements is true during the inflation period a. The depreciation expense is overstated b. depreciation expense is understated

which of the following statements is true select one a. an employer cannot be held liable for a tort that an employee deliberately committed b. vicarious liability supports tort law's compensation...

Which of the following statements is true in regard to accrual accounting? A. Revenue is recorded only when cash is received. B. Expenses are recorded when they are incurred. C. Revenue is recorded...

Grand River Company produces a high-quality insulation material that passes through two production processes. Data for November for the first process follow: Required: 1. Assume that the company uses...

Mortar Company produces a product that passes through two processes: Grinding and Mixing. Information related to its Grinding department manufacturing activities for July follows. The company uses...

Scribners Corporation produces fine papers in three production departmentsPulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically...

Papyrutech Corporation produces fine papers in three production departmentsPulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically...

In October 2010, Rojo Inc.s production was 53,600 equivalent units for direct material, 48,800 equivalent units for direct labor, and 42,000 equivalent units for overhead. During October, direct...

Honeybutter, Inc., manufactures a product that goes through two departments prior to completionthe Mixing Department followed by the Packaging Department. The following information is available about...

Lambda Company made an error in computing the percentage of completion of the current years beginning work-in-process inventory. The error resulted in the assignment of a higher percentage of...

XYZ development owns the last vacant parcel in a thriving industrial park. There are 3 proposals for developing that property; the corresponding data are shown in the table below: W First cost Annual...

Let a C([a, b]) n BV([a, b]). Assume g = R(a) on [a, b] and define B(x) = g(t) da(t) if x = [a, b]. Show that (a) if f is increasing on [a, b], there exists ro [a, b] such that [se JdB = f(a) " gia...

The Charlotte Company recently reported net profits after taxes of $ 1 9 . 8 million. It has 2 . 5 million shares of common stock outstanding and pays preferred dividends of $ 1 million a year. The...

You have a 4cmx1cmx1cm sample of iron. How many atoms are in it?

5. (a) Use the standard form of the equation of the circle to find the equation of the circle that has centre C ( - 4, 6 ) and passing through the point P (3,1). {The standard form of the circle...

A rectangular coil of N turns and of length a and width b is rotated at frequency f in a uniform magnetic field of magnitude B, as indicated in the figure. The coil is connected to co-rotating...

What is the Committee on Sponsoring Organizations (COSO)? What are the five components which the organization outlines for an entity to use to achieve the organizations objectives?

The South African Rand is trading 11.4518 11.4522 Rand/$. The UK pound is trading at 1.5075-1.5079 $/pound. What range of pound/Rand rates imply no opportunity for arbitrage?

Some laws have unintended, harmful consequences that negatively affect patients and the care they receive. Group of answer choices True False

Question 1 (1 point) Which of the following statements describes Black Fly's process costing system? Question 1 options: Direct materials and direct labour are traced to each specific order. The...

I need help in this homework. Please do it as it is in the pictures on excel showing formulas I need help in this, please do it accrately and perfect Format Painter Formatting Table Styles Styles...

Dente Pasta Ltd. a specialty pasta maker gives us their data for the year: WIP inventory, beginning 0 units Units started 7,200 units Units completed and transferred out 6,700 units WIP inventory,...

Marigold is a producer of perfume, sourcing materials from all over the world as it creates beautiful scents. In November, Marigold was producing perfume that would be bottled into 1.2 ounce sizes....

PART Sharp Company manufactures a single product. All material is added at the beginning of the process. No. of Units % of Completion Cost (5) DM CC DM CC Beginning WIP inventory 6,000 100% 30%...

Loanstar had 100 units in beginning inventory before starting 1,000 units and completing 900 units. The beginning work in process inventory consisted of $3,000 in materials and $5,000 in conversion...