ezto.mheducation.com Question 4 - Week 3 Assessment Problems - Connect Problems Timing Technology, Inc. Manufactures Timing Device... | Chegg.com Week 3 Assessment Problems i Saved Help Save & Exit Submit Check my work Required information Problem 4-25 Step-by-Step Weighted-Average Process Costing (LO 4-3, 4-4, 4-5) Part 4 of 4 [The following information applies to the questions displayed below.] Timing Technology, Inc., manufactures timing devices. During 20x1, 1,600,000 units were completed and transferred to 8.33 finished-goods inventory. On December 31, 20x1, there were 330,000 units in work in process. These units were 50 points percent complete as to conversion and 100 percent complete as to direct material. Finished-goods inventory consisted of 496,000 units. Materials are added to production at the beginning of the manufacturing process, and overhead is applied to each product at the rate of 100 percent of direct-labor costs. There was no finished-goods inventory on January 1, 20x1. A review of the inventory cost records disclosed the following information: eBook Costs Direct Direct Units Material Labor Work in process, January 1, 20x1 Print (85% complete as to conversion) 320, 000 312, 000 $ 316, 400 Units started in production 1, 610, 000 Direct-material costs $3, 355, 000 Direct-labor costs $3, 301, 850 References Problem 4-25 Part 4 4-a. Complete the following schedule as of December 31, 20x1, to compute the cost of work-in-process inventory. 4-b. Complete the following schedule as of December 31, 20x1, to compute the cost of finished-goods inventory. Complete this question by entering your answers in the tabs below. Req 4A Req 4B Complete the following schedule as of December 21 20v1 to commute the sact of work-in-nearace inventory (Daund "fact Mc Graw Hill