Algoma Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs Beginning Inventory 200 $ 200,000, $ 200,000. Started During the Current Period 600 $2,000,000. $2,500,270. Ending Inventory 100 All materials are added at the beginning of the production process. Conversion costs are added evenly throughout the proc- The beginning inventory was 40% complete of the process while the ending inventory was 30% complete. Algoma uses the weighted-average costing method. REQUIRED: What is the TOTAL cost assigned to the onding work in process inventory? Oa.$ 315,171. Ob.$ 385,970. Oc$ 276,157. Od.$ 619,900.
Algoma Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs Beginning Inventory 200 $ 200,000, $ 200,000. Started During the Current Period 600 $2,000,000. $2,500,270. Ending Inventory 100 All materials are added at the beginning of the production process. Conversion costs are added evenly throughout the proc- The beginning inventory was 40% complete of the process while the ending inventory was 30% complete. Algoma uses the weighted-average costing method. REQUIRED: What is the TOTAL cost assigned to the onding work in process inventory? Oa.$ 315,171. Ob.$ 385,970. Oc$ 276,157. Od.$ 619,900.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 4CMA: A company is using process costing with the first-in, first-out (FIFO) method, and all costs are...
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