Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume the following information: milling depar

Assume the following information: Milling Department Units Percent Complete Materials...

80.2K

Verified Solution

Question

Accounting

Assume the following information:

Milling Department Units Percent Complete
Materials Conversion
Beginning work in process inventory 200 40% 30%
Units started into production during March 6,200
Units completed during the period and transferred to the next department 5,800 100% 100%
Ending work in process inventory 600 ?% 60%

Milling Department Materials Conversion
Cost of beginning work in process inventory $ 10,000 $ 15,000
Costs added during the period 290,000 385,000
Total cost $ 300,000 $ 400,000

If the cost per equivalent unit for materials is $48.23 using the weighted-average method, then the percent complete with respect to the materials in ending work in process inventory is closest to:

A) 70%.

B) 40%.

C) 60%.

D) 50%.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

f(x) =2x^5-5x^4-10x^3+1 is defined as all real numbers a) find the intervals where F is increasing...

Basic Math
1.2K views

Required Words: 400 Required Collection of consumer price index of different countries for analysis

Biology
1.2K views

Short Answer: Please answer in full sentences with proper grammar. Short Paragraph format. 2pts each. Total...

Physics
1.2K views

5 3R 2 2 2R 1 Variation of pressure P with volume monoatomic gas is...

Statistics
1.2K views

Choose the correct answer below ets that have inherent zeros and three that do not...

Statistics
1.2K views

9 Continuing with the context of the previous problem We now assume the pop ulation...

Calculus
1.2K views

AA 3 1 Using Derivat answered x 2x 36x 192x

Calculus
1.2K views

K Write true or false for the A man might be 2 kild Choose the...

Calculus
1.2K views

y p t y q t y 0

Accounting
1.2K views

1. Which one of the following is NOT the name of a classification of debt-based...

Accounting
1.2K views

Companies A and B both use the LIFO cost flow assumption to value their inventory....

Finance
1.2K views

Assume that the continuously-compounded spot yields curve is as follows: r(0,0.5)=1.2%, r(0,1)=1.6%, r(0,1.5)=2%, r(0,2)=2.2%. a....