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:
A. $74,801
B. $64,115
C. $106,859
D. $68,067
Answer: D
You might also like to view...
Tactical control is performed mainly by
A. middle managers. B. top managers. C. the CEO. D. first-level managers. E. team leaders.
The belief that leaders are born with the talent and abilities for leadership is called ______.
A. trait approach B. state approach C. social learning D. drive
The usual entry to record the conversion of convertible bonds or preferred stock into common shares ignores _____ and shows the swap of common shares for bonds or preferred stock at their _____
a. current market prices; carrying value b. carrying value; current market prices c. current market prices; par value d. carrying value; par value e. present value of future cash flows; current market prices
McGrath Corporation recently issued 180-day commercial paper with a face value of $1,500,000 and a simple interest rate of 13 percent. The company paid a transaction fee equal to 0.3 percent of the amount issued, which was taken out of the issue amount before the company received any funds. Assuming there are 360 days in a year, what are the commercial paper's annual percentage rate (APR) and effective annual rate (rEAR), respectively?
A. APR = 7.30%; rEAR = 15.12% B. APR = 9.73%; rEAR = 9.84% C. APR = 13.97%; rEAR = 14.23% D. APR = 14.59%; rEAR = 15.12% E. APR = 15.34%; rEAR = 15.34%