which of the following is an error when accounting for transferred-in costs? Exp

Question

which of the following is an error when accounting for transferred-in costs? Explain why you chose that answer

a)including transferred in costs from previous departments

b)costing units at average costs

c)converting units to a common measurement when transferred in

d)consider costs assigned at the beginning of the period when calculating costs to be transferred on a weighted average basis

e)consider costs assigned at the beginning of the period when calculating costs to be transferred on a FIFO basis

Explanation / Answer

d)consider costs assigned at the beginning of the period when calculating costs to be transferred on a weighted average basis

when calculating cost of units transferred and completed we do not consider the beginning cost of the period.

d)consider costs assigned at the beginning of the period when calculating costs to be transferred on a weighted average basis

when calculating cost of units transferred and completed we do not consider the beginning cost of the period.

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