Question 3: (20 marks) (B1, C3) Manama Steel processes a single type of steel. For the...

 

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Question 3: (20 marks) (B1, C3) Manama Steel processes a single type of steel. For the current period the following information is given: Beginning Inventory Started During the Current Period Ending Inventory Units 400 500 200 Material Costs Conversion Costs $2,000 $5,000 $4,300 Instructions: Prepare a production cost worksheet using the weighted-average method. $8,000 All materials are added at the ending of the production process. The beginning inventory was 40% complete as to conversion, while the ending inventory was 60% completed for conversion purposes. Manama uses the weighted-average costing method. Question 3: (20 marks) (B1, C3) Manama Steel processes a single type of steel. For the current period the following information is given: Beginning Inventory Started During the Current Period Ending Inventory Units 400 500 200 Material Costs Conversion Costs $2,000 $5,000 $4,300 Instructions: Prepare a production cost worksheet using the weighted-average method. $8,000 All materials are added at the ending of the production process. The beginning inventory was 40% complete as to conversion, while the ending inventory was 60% completed for conversion purposes. Manama uses the weighted-average costing method.

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