Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs 2,500 $ 14,600 6,700 75% Conversion costs 2$ Percent complete with respect to materials Percent complete with respect to conversion 20% Units started into production during the month 11, 200 Units transferred to the next department during the month Materials costs added during the month 10,100 $ 173,700 $ 243,700 Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 3,600 90% 30% The cost per equivalent unit for materials for the month in the first processing department is closest to: Multiple Cholce $11.57 $12.51 $11.26 $14.12 Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs 2,500 $ 14,600 6,700 75% Conversion costs 2$ Percent complete with respect to materials Percent complete with respect to conversion 20% Units started into production during the month 11, 200 Units transferred to the next department during the month Materials costs added during the month 10,100 $ 173,700 $ 243,700 Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 3,600 90% 30% The cost per equivalent unit for materials for the month in the first processing department is closest to: Multiple Cholce $11.57 $12.51 $11.26 $14.12
Expert Answer:
Answer rating: 100% (QA)
OEng weighted overage method Equivalent units U its that a... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
Students also viewed these accounting questions
-
Cost per equivalent unit is $2 per EU for materials and $3 per EU for conversion. There are no transferred in costs and no spoilage. What is the cost of goods completed if 10,000 units are completed...
-
In Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below Beginning work in process...
-
Fayard Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 5,000 units in its beginning work in process inventory that were 70%...
-
What is the cofactor of an entry of a matrix? How are cofactors used to find the determinant of the matrix?
-
Define the following terms: polysaccharide, furanose, pyra-nose, aldose, ketose, glycosidic bond, oligosaccharide, glycoprotein.
-
We describe franchising as a pathway to entrepreneurship which provides a spectrum of entrepreneurial opportunities. What does this mean to you?
-
With reference to Exercise 3.25, suppose that three of the spark plugs are defective. In how many ways can 4 spark plugs be selected so that (a) one of the defective plugs is selected; (b) two of the...
-
You are thinking about investing $5000 in your friends landscaping business. Even though you know the investment is risky and you cant be sure, you expect your investment to be worth $5750 next year....
-
7. It is often suggested that K, should be changed so that (Ks) = (Ks). For example, if cos 2 Ks = cos (0-2) cos (0 + 2T) sin 0 sin (0-2) sin (0+2) 3 T then (K) = (K)-1. Show that this is true. Also,...
-
On March 1, 2008, Ginny Tyler established Seltzer Realty. Ginny completed the following transactions during the month of March: a. Opened a business bank account with a deposit of $30,000 from...
-
Mailing a Package The post office will accept only packages for which the length plus the "girth" (distance around) is no more than 108 in. Thus for the package in the figure, we must have L + 2(x+y)...
-
01.) Positive charges of +Q and negative charges of -Q are placed on the corners of a square as shown. What is the direction of the electric field E and the sign of the electric potential V at point...
-
9. 10. 11. A pith ball has a charge of -1.30 x 10-6 C. How many extra electrons are there? 8.13 x 102 e- A pith ball has a charge of 7.4 10-8 C. How many extra particles are there and what kind? 4.6...
-
08.) If the connecting wires and the battery in the circuit have negligible resistance, what is the current through the 6-ohm resistor? (A) 1/10 A (B) 1/3 A (C) 1/2 A (D) 1 A (E) 3/2 A Holo 6V 79...
-
Consider the figure with a symmetrical arrangement, in which qa = qb= +6.55 C, qc = 9d = -6.55 C, and q is positive. Using the symmetry of the arrangement, determine the direction of the force on...
-
5. In 2009, the world's fastest (and possibly coolest) man, Usain Bolt, set a world record for a 100 meter sprint with a time of 9.58 seconds. Round all answers to two decimal points in this problem....
-
For the water distribution network below, what is the peak flow (in m/min) for pipe 4? The population to be served at the demand points are included in the table below. The average daily water demand...
-
Why should you not model a decision variable as a random variable with a probability distribution?
-
In response to a request from your immediate supervisor, you have prepared a CVP graph portraying the cost and revenue characteristics of your companys product and operations. Explain how the lines...
-
Last month when Holiday Creations, Inc., sold 50,000 units, total sales were $200,000, total van- able expenses were $120,000, and fixed expenses were $65,000. Required: 1. What is the companys...
-
Luthan Company uses a predetermined overhead rate of $23.40 per direct labor-hour. This predetermined rate was based on 11,000 estimated direct labor-hours and $257,400 of estimated total...
-
Describe the four components of an accounting policy. Illustrate your answer with examples.
-
The percentage of heights between 146 centimeters and 156 centimeters
-
The population of unemployed adults has ages with mean m and standard deviations. Samples of unemployed adults are randomly selected so that there are exactly 100 in each sample. For each sample, the...
Study smarter with the SolutionInn App