Question: Please help with the attached question. Need a detailed solution. CHAPTER 17 QUIZ Use the following information for questions 1 through 10. Top That manufactures

Please help with the attached question. Need a detailed solution.

Please help with the attached question. Need a
CHAPTER 17 QUIZ Use the following information for questions 1 through 10. Top That manufactures baseball-style hats. Material is introduced at the beginning of the process in the Cutting Department. Conversion costs are incurred (and allocated) uniformly throughout the process. As the cutting of material is completed, the pieces are immediately transferred to the Sewing Department. Data for the Cutting Department for the month of February 2009 follow: Work-in-process, January 31-50,000 units 100 percent complete for direct materials; 40 percent completed for conversion costs actual costs of direct materials, $70,500; actual costs of conversion, $34,050 Units started during February, 225,000 Units completed during February 200,000 Work-in-process, February 28 75,000 units 100 percent complete for direct materials; 20 percent completed for conversi costs Direct materials added during February [actual costs) $342,000 Conversion costs added during February factual costs) $352,950 1. Assuming Top That uses the weighted-average method to account for inventories, equivalent units of work for the month of February are Direct Materials Conversion Costs a. 225,000 225,000 b. 200,000 200,000 C . 275,000 215,000 d. 225,000 200,000 2. Assuming Top That used the weighted-average method to account for invent cost per equivalent whole unit produced during February is a. $3.30. b. $3.55. C. $3.77. d. $4.00. Assuming Top That uses the weighted-average method to account for inv assignment of costs to work-in-process at the end of February is a. $300,000. b. $266,250. C $166,525. $139,500

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 Finance Questions!