West Texas Petroleum manufactures a specialty oil called West Texas Petroleum Oil. The manufacturing process for...
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West Texas Petroleum manufactures a specialty oil called West Texas Petroleum Oil. The manufacturing process for this oil requires that all materials be added at the beginning of the process. Conversion takes place uniformly throughout the production process. At the beginning of the month, inventory was 60% complete with respect to conversion. At the end of the month, work-in-process inventory was 20% complete. For May, West Texas has provided the following data: Work in process, May 1 Units started during May Units completed and transferred out Work in process, May 31 Costs: Work in process, May 1 Costs incurred during May Totals Select one: a. $249,560. b. $250,240. O c. $258,400. Od. $263,840. Units e. None of the answers is correct. 15,000 60,000 68,000 7,000 Total $ 41,250 234,630 $275,880 Direct Materials $16,500 72.000 $88.500 Based on weighted-average process costing, the units completed during May should be valued at: Conversion Costs $ 24,750 162.630 $187.380 West Texas Petroleum manufactures a specialty oil called West Texas Petroleum Oil. The manufacturing process for this oil requires that all materials be added at the beginning of the process. Conversion takes place uniformly throughout the production process. At the beginning of the month, inventory was 60% complete with respect to conversion. At the end of the month, work-in-process inventory was 20% complete. For May, West Texas has provided the following data: Work in process, May 1 Units started during May Units completed and transferred out Work in process, May 31 Costs: Work in process, May 1 Costs incurred during May Totals Select one: a. $249,560. b. $250,240. O c. $258,400. Od. $263,840. Units e. None of the answers is correct. 15,000 60,000 68,000 7,000 Total $ 41,250 234,630 $275,880 Direct Materials $16,500 72.000 $88.500 Based on weighted-average process costing, the units completed during May should be valued at: Conversion Costs $ 24,750 162.630 $187.380
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Cost Accounting A Managerial Emphasis
ISBN: 978-0133392883
6th Canadian edition
Authors: Horngren, Srikant Datar, George Foster, Madhav Rajan, Christ
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