Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following cost information is available for ju

The following cost information is available for July for the Crest Plant at Calvert Company:...

50.1K

Verified Solution

Question

Accounting

The following cost information is available for July for the Crest Plant at Calvert Company:
Beginning work-in-process inventory
Materials cost $ 63,280
Conversion cost 40,002
Total $ 103,282
Current costs
Materials cost $ 140,120
Conversion cost 421,038
Total $ 561,158
Materials are added at the beginning of the process. The following quantities have been recorded:
Beginning inventory, 45,200 partially complete gallons, 25 percent complete with respect to conversion costs.
Units started in July, 90,400 gallons.
Units transferred out in July, 101,700 gallons.
Ending inventory, 33,900 gallons, 40 percent complete with respect to conversion costs.
Required:
Compute the cost of goods transferred out and the ending inventory for July using the weighted-average method.

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

Q

\"The goal of financial management is to take actions which maximize the value of a firm's...

Finance
Q

choose one of Paul's letters from your Bible and read its introduction. If you were to introduce...

Psychology
Q

How many a and particles are emitted when 92 U238 decays into 82Pb206 1 8a...

Physics
Q

2 A ray of light travelling in air have wavelength A frequency n velocity v...

Physics
Q

3 5 x 4 cm s 4 4 x 5cm s FL0061 52 If the...

Physics
Q

Find sa Use 3 decimal places Assume the samples are random and dependent and the...

Statistics
Q

Calculate the Inverse of the following Matrix with Gauss Jordan method 1 0 5 0...

Calculus
Q

Hruska Corporation's production budget for next year contained the following estimates: \table[[,1st Quarter,2nd Quarter,3rd...

Accounting
Q

Required information (The following information applies to the questions displayed below.) In 2021, the Westgate...

Accounting
Q

Problem 23-2A Preparing and analyzing a flexible budget performance report LO P1, P2, A1 Phoenix...

Accounting
Q

The type of preferred stock whose dividend payments are never paid to stockholders and are...

Accounting
Q

Clara is setting up a retirement fund, and she plans on depositing $4,200 per year...

Accounting