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Question

assessment-ide 20834 1&course;_id: 1379 1&content-id;: 1391791&question-num;,???0btoggle ain Menu s-@chegg € CATS G Google ÷ web.?CONC Description CRus g EPP?Gsax..?1AS , UPS @use..-USDA.. ÷ Multiple Attempts This test allows multiple attempts Force Completion This test can be saved and resumed later. Question Completion Status: > Moving to another question will save this response estion 1 Lothian Corporation uses the weighted-average method in its process costing system. Data concerning the first processing depart Beginning work in process inventory Units in beginning work in process inventory. 200 $1.800 costs. Percent complete with respect to material.s.. Percent complete with respect to conversion Units started into production during the month. 55% 20% 5,500 5,200 ....$80,900 Conversion costs added during the month.. $171,300 Units transferred to the next department during the month. Materials costs added during the month. Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion... 500 65% 25% Note: Your answers may differ from those offered below due to rounding error In all cases, select the The cost of ending work in inventory in the irst processing department according to the company's cost system is closest to $8.919 ? S15.405 O $5,925 O $23,700 Moving to another question wil save this response.

Explanation / Answer

Cost of Prduction report (weighted avg method) ProductionDepartment Equivalent Units Flow Of Units Physical Units Direct material Conversion Cost Units to be accounted for Beginning work in process inventory 200 Units started this period 5500 Total u nits to be accounted for    5700 Units accounnted for: Units transferred out (b) 5200 5200 5200 Ending work in progress inventory c (65% material and 25% conversion) 500 325 125 Total units to be accounted for (f)      5700 5525 5325 Flow of Cost Cost in the begnning work in progress inventory 3200 1800 1400 cost added to process 252200 $80,900 $171,300 Total Cost to be accounted for (e)     255400 82700 172700 Cost per equivalent unit (a)     14.97 32.43 Cost accounted for Cost assigned to units transferred out (a*b) 246481 77835 168646 Cost in ending work in progress inventory (a*c)     8919 4865 4054 Total Cost accounted for    255400 82700 172700 Option A is correct $8919

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