Sheridan Fingers Corp is a manufacturer of gluten-free cinnamon rolls that are packaged and sold in...
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Sheridan Fingers Corp is a manufacturer of gluten-free cinnamon rolls that are packaged and sold in quantities of six rolls. Sheridan has chosen to implement a process costing system to account for the company's production costs at the recommendation of the head cost accountant, Richard. He examined the records for the most current year and compiled the following information: Beginning Work-in-Progress (WIP) Inventory: 236 units that are 100% completed for Direct Materials (DM) and 70% completed for Conversion Costs (CC) Units Started During the Period: 18700 Units Completed by the End of the Period: 16400 Ending WIP Inventory: x units that are 100% completed for DM and 60% completed for CC The beginning inventory includes the following costs: DM, $350; and CC, $670. During the most recent year, Sheridan added the following costs: DM, $48500; and CC, $59300. Using the Weighted-Average method, how much total cost should be assigned to the units completed this period? (Do not round intermediate calculations.) Sheridan Fingers Corp is a manufacturer of gluten-free cinnamon rolls that are packaged and sold in quantities of six rolls. Sheridan has chosen to implement a process costing system to account for the company's production costs at the recommendation of the head cost accountant, Richard. He examined the records for the most current year and compiled the following information: Beginning Work-in-Progress (WIP) Inventory: 236 units that are 100% completed for Direct Materials (DM) and 70% completed for Conversion Costs (CC) Units Started During the Period: 18700 Units Completed by the End of the Period: 16400 Ending WIP Inventory: x units that are 100% completed for DM and 60% completed for CC The beginning inventory includes the following costs: DM, $350; and CC, $670. During the most recent year, Sheridan added the following costs: DM, $48500; and CC, $59300. Using the Weighted-Average method, how much total cost should be assigned to the units completed this period? (Do not round intermediate calculations.)
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Related Book For
Accounting Information Systems Controls and Processes
ISBN: 978-1119329565
3rd edition
Authors: Leslie Turner, Andrea Weickgenannt, Mary Kay Copeland
Posted Date:
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