Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: Cost PercentCompleteMaterials costs$5,200 60% Conversion costs$8,500 55% A total of 7,800 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials costs$95,000 Conversion costs$169,200 The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. The total cost transferred from the first processing department
to the next processing department during the month is closest to:
A. $264,200
B. $277,900
C. $244,219
D. $288,935
Answer: C
You might also like to view...
Which of the following statements is true of your speech’s purpose?
a. It specifies the goal of your speech. b. It expresses the central idea of your speech. c. It introduces the first argument of your speech. d. It contains several sentences.
Which of the following accounts is classified as a short-term financial asset?
a. Office Supplies b. Accounts Receivable c. Equipment d. Prepaid Insurance
________ analysis finds the point at which costs equal revenues
Fill in the blanks with correct word
Which approach to capacity management may be hard to sustain if the labor market is tight?
A) Time flexibility from workforce B) Use of seasonal workforce C) Use of subcontracting D) Use of dual facilities—dedicated and flexible