A firm uses a weighted-average process costing system. Direct materials and conversion costs are incurred evenly during the production process. During the month of October, the following costs were incurred:Direct materials $39,700Conversion costs 70,000The work-in-process inventory as of October 1 consisted of 5,000 units, valued at $4,300, that were 20% complete. During October, 27,000 units were transferred out. Inventory as of October 31 consisted of 3,000 units that were 50% complete. The weighted-average inventory cost per unit completed in October was
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A firm uses a weighted-average process costing system. Direct materials and conversion costs are incurred evenly during the production ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Select the type of assessment that best fits the sentence. Jeff wants to open a basic savings account.
Answers (1)
Beginning inventory, purchases, and sales for Item Widget are as follows: Mar. 1 Inventory 200 units at $8 9 Sale 175 units 13 Purchase 160 units at $9 25 Sale 150 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO)
Answers (1)
A firm practicing direct price discrimination will charge a higher price to a. Consumers known to have an inelastic demand b. All consumers c. Consumers known to have a unitary elastic demand d. Consumers known to have an elastic demand
Answers (1)
What is likely to be the role of agri- culture in a traditional economy?
Answers (1)
Your parents own their own business and they do very well financially they are very independent and take responsibility for all of their business and personal costs based on the information provided which political party are your parents a member of
Answers (1)
New Questions in Business
Economic exposure, a category of foreign exchange risk, is distinct from transaction exposure, which is concerned with the effect of exchange rate changes on individual transactions, most of which are short-term affairs that will be executed within
Answers (1)
According to liquidity preference theory, if there were a surplus of money, then A. the interest rate would be above equilibrium and the quantity of money demanded would be too large for equilibrium. B.
Answers (1)
Moonbeam Company manufactures toasters. For the first 8 months of 2017, the company reported the following operating results while operating at 75% of plant capacity: Sales (349,400 units) $ 4,372,000 Cost of goods sold 2,595,000 Gross profit
Answers (1)
What equipment should you use to reheat food? A. A stove B. A heat lamp C. A steam table D. A chafing dish
Answers (1)
A small multifamily property generates $50,000 in rental income, $10,000 in expenses, and $25,000 in debt service. The property appreciates about $25,000 each year. What is the cash flow on this property?
Answers (1)