Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gunes corporation uses the weighted average method

Gunes Corporation uses the weighted average method in its process costing system. This month, the...

80.2K

Verified Solution

Question

Accounting

image
image
Gunes 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: Percent Cost Complete Materials costs $ 10,600 65% Conversion costs $ 12,800 30% A total of 8 500 units were started and 7400 units were transferred to the second processing department during the month. The following costs were incurred in the fust processing department during the month Materials costs Conversion costs Cost $ 142,100 $ 359,500 The ending inventory was 50 complete with respect to materials and 35% 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 $476,929 $599,376 $501,600 $525.000

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

Algebra
1.2K views

A private college reports:70% of incoming freshmen attended public schools.75% of public school students who...

Psychology
1.2K views

What is Art? An appreciation for a work of art is created by personal taste. Identify the...

Physics
1.2K views

a Er b E c Exr d Exp 100 An early model for an atom...

Basic Math
1.2K views

15 1 point Which of the following is equivalent to the expression a 9x 88...

Basic Math
1.2K views

Each Venn diagram has sets A B and the universal set U a Shade AUB...

Calculus
1.2K views

Use the formula d 2rr cos 0 0 to find the distance between the two...

Calculus
1.2K views

Score 0 42 0 10 answered Question 2 Start with the graph of f x...

Accounting
1.2K views

If a $15000, 8% 20-year bond was issued at 96 on Nov 1, how much...

Accounting
1.2K views

2. Post entries to T-accounts and the ending balances will be calculated. Complete this question...

Accounting
1.2K views

Journal Entries for Accounts and Notes Receivable Pittsburgh, Inc., began business on January 1. Certain...

Accounting
1.2K views

Becker Bikes manufactures tricycles. The company expects to sell 380 units in May and 510...

Accounting
1.2K views

Green with Envy provides environmentally friendly lawn services for homeowners. Its operating costs are as...