Question: epstein corporation uses the weighted average method in its process costing system. this month or the beginning inventory in the first processing department consisted of
Ep stein Corpora tion uses the weighted-average method in its process costing system. This month, the department consisted of 400 units. The costs and percentage inventory in the first processing completion of these units in beginning inventory were: Cost Percent Complete 60% 50% Conversion costs..$4400 A total of 7,000 units were started and 6,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials costs...$93,300 Conversion costs..$135,500 The ending inventory was 85% complete with respect to materials and 45% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. 4. The cost per equivalent unit for materials for the month in the first processing department is closest to: A. $12.84 B. $13.32 C. $13.08 D. $12.61 5. The total cost transferred from the first processing department to the next processing department during the month is closest to: A. $248,529 8. $218,303 C. $236,700 D. $228,800 6.The break-even point in unit sales is found by dividing total fixed expenses by A. The contributin margin ratio B. The variable expenses per unit C. The sale price per unit D. The contribution margin per unit
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
