Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating department: Conversion Percent Direct materials Units Percent Complete Beginning work in process inventory 95,000 70% Units started and completed 280,000 Units completed and transferred out 375,000 Ending work in process inventory 37,500 30% Production cost information for the Fabricating department follows. Beginning work in process $ 113,760 94,700 $ 208,460 $ 802,800 1,091,050 1,893,850 Direct materials Conversion Costs added this period Direct materials Conversion culate the cost per equivalent unit for conversion. Multiple Choice O $2.94 О О $3.03 $3.16 80 F3 a F4 3 $ 4 85 Complete 20% 10% < Prev 39 of 39 Next F5 F6 & A F7 DII 4 FS F9 F10 6 7 8 9 0 E R T Y U 0 D F G H J K L C V B N M
Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating department: Conversion Percent Direct materials Units Percent Complete Beginning work in process inventory 95,000 70% Units started and completed 280,000 Units completed and transferred out 375,000 Ending work in process inventory 37,500 30% Production cost information for the Fabricating department follows. Beginning work in process $ 113,760 94,700 $ 208,460 $ 802,800 1,091,050 1,893,850 Direct materials Conversion Costs added this period Direct materials Conversion culate the cost per equivalent unit for conversion. Multiple Choice O $2.94 О О $3.03 $3.16 80 F3 a F4 3 $ 4 85 Complete 20% 10% < Prev 39 of 39 Next F5 F6 & A F7 DII 4 FS F9 F10 6 7 8 9 0 E R T Y U 0 D F G H J K L C V B N M
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 22E: Fordman Company has a product that passes through two processes: Grinding and Polishing. During...
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