Answered: Merckley Company has a process costing…

Name: 5.Merckley Company has a process costing system and uses the FIFO meth
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Description: 5.Merckley Company has a process costing system and uses the FIFO method. For May, the company's beginning work-in-progress inventory was 80% complete with respect to conversion, and the ending inventory was 50% complete with respect to conversion. I

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 6PA: Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in...

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5.Merckley Company has a process costing system and uses the FIFO method. For May, the company's beginning work-in-progress inventory was 80% complete with respect to conversion, and the ending inventory was 50% complete with respect to conversion. Information on units processed and conversion costs incurred during May follow:

Units Conversion cost

Work-in-progress inventory on May 1 25,000 € 22,000

Units started into production, and

costs incurred during the month 135,000 € 161,000

Units completed and transferred to

finished goods during the month 110,000

Work-in-progress inventory on May 31 50,000

What was the amount of conversion cost in the ending work-in-progress inventory?

a) €28,750

b) €35,000

c) €57,500

d) €70,000

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