Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost PercentCompleteMaterials costs$15,700 75% Conversion costs$7,700 20% A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: CostMaterials costs$186,300 Conversion costs$329,800 The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs.The cost of ending work in process inventory in the first processing
department according to the company's cost system is closest to: (Round your intermediate calculations to 3 decimal places.)
A. $64,115
B. $74,801
C. $106,859
D. $68,067
Answer: D
You might also like to view...
The U.S. Constitution provision that requires the government to compensate property owners when it takes private property is called ________.
A. the Due Process Clause of the Fourteenth Amendment B. the Establishment Clause of the First Amendment C. the Commerce Clause D. Just Compensation Clause
The _________ provide(s) the most direct means of calculating unit costs for a job
a. job order cost card b. Finished Goods Inventory account c. general ledger d. Overhead and Work in Process Inventory accounts
David and Veronica Allen bought land in Independence, Missouri, during 1994 for $22,000. In January 1998, they listed it for sale with a broker, Chuck Zuvers, asking $88,000. The property remained on the market until May 1999, when Thomas C. Scott contracted to buy it for $90,000. Scott signed the sales contract as "Thomas C. Scott, or assigns" because he was organizing Scott, Hewitt & Mize as a
limited liability company and wanted the land deeded to the firm. At closing, and following Scott's instruction, the Allens deeded the property to "Scott, Hewitt & Mize, LLC." Although Scott and his partners had filed articles of organization for Scott, Hewitt & Mize with the Secretary of State before closing, the Secretary of State rejected the articles because of errors contained in them. Scott corrected the errors, and the Secretary of State issued a certificate of organization to Scott, Hewitt & Mize nine days after closing. ?The deed was recorded under the LLC's name, but the LLC did not exist. Which of the following statements is correct? A)?The deed is still valid and the LLC holds title since the Secretary of State certified the LLC nine days after closing. B)?There is a gap in the chain of title because of a transfer to grantee without legal status. C)?The chain of title is fixed if the LLC re-records the deed. D)?A deed can be recorded in the name of an existing or quasi-existing entity.
JoEllen has a major medical policy with a $500,000 lifetime aggregate limit, a $1,000 annual deductible and 80% coinsurance
Her health losses for the year include the following: hospital bills of $42,000; surgeon's fees of $14,000, prescription medication expenses of $5,000. How much will JoEllen's insurance pay for this loss? A) $48,000 B) $48,800 C) $60,000 D) $61,000