$32,501 $7,647 $38,237 $19,773 Hache Corporation uses the weighted-average metho
ID: 2419687 • Letter: #
Question
$32,501
$7,647
$38,237
$19,773
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Points : 2) Beginning work in process inventory Units in beginning work in process inventory........... Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion............... 700 $8,000 $7,800 50% 35% 5,200 4,400 ....S90,300 $125,600 Units started into production during the month Units transferred to the next department during the month. Materials costs added during the month................ Conversion costs added during the month. Ending work in process inventory Units in ending work in process inventory............ Percent complete with respect to materials Percent complete with respect to conversion 1,500 50% 30%
Explanation / Answer
MATERIAL Equivalent completed units Opening 350 During the month 3700 Closing 750 Total Units 4800 Material Cost during the month 90300 Material Cost per unit 18.81 Closing WIP 14109.38 CONVERSION COST Equivalent completed units Opening 455 During the month 3700 Closing 450 Total Units 4605 Material Cost during the month 125600 Material Cost per unit 27.27 Closing WIP 12273.62 Value of Closing WIP 26382.99
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