In using average method, Cruz Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For November 2021, Cruz Company presented the following costs on three processes:what is the unit cost of inventory transferred out from Department C?P19.80P19.83P28.70P28.77 November Costs incurred:Process AProcess BProcess C407,030.00303,426.00242,946.00953,402494 459354,492MaterialsDirect LaborOverhead299,229301,915238,560241,735Total1,032,248898,142|70% at the beginning of the 50% at beginning, 50% 40% at beginning,additional 30% at 40%complete, and remaining30% at 80% complete.Materials are added at:process; remaining 30% at at 80% conversion.60% conversion.Started/Transferred in (units)Completed (units)100,000???4,000 units at 40%converted.3,000 units at 30% converted.3,000 units at 50% converted.In process, end (units) andstage of completion

Conversion costs are those costs which are required to be incurred in order to convert the materials…

Answered: In using average method, Cruz Company…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

In using average method, Cruz Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For November 2021, Cruz Company presented the following costs on three processes: what is the unit cost of inventory transferred out from Department C? P19.80 P19.83 P28.70 P28.77

November Costs incurred:
Process A
Process B
Process C
407,030.00
303,426.00
242,946.00
953,402
494 459
354,492
Materials
Direct Labor
Overhead
299,229
301,915
238,560
241,735
Total
1,032,248
898,142
|70% at the beginning of the 50% at beginning, 50% 40% at beginning,
additional 30% at 40%
complete, and remaining
30% at 80% complete.
Materials are added at:
process; remaining 30% at at 80% conversion.
60% conversion.
Started/Transferred in (units)
Completed (units)
100,000
?
?
?
4,000 units at 40%
converted.
3,000 units at 30% converted.
3,000 units at 50% converted.
In process, end (units) and
stage of completion

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions