In the first month of operations, material costs of $500,000 and conversion costs of $535,500 were charged to a processing department. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. 100,000 units were started into production during the month, and there were 8,000 units in ending work in process that were 30% complete. Given this, the total amount of manufacturing costs assigned to those units that were completed and transferred out during the month is closest to which amount?
a. $990,000.
b. $1,060,000.
c. This is not able to be determined from the provided information.
d. $980,000.
e. $970,000.
f. $1,070,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In the first month of operations, material costs of $500,000 and conversion costs of $535,500 were charged to a processing department. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What is the definition of liquidity? how difficult it is to maximize returns on investments how much money someone has in a savings account how easily an investment can be exchanged for cash how much income someone has to invest each year
Answers (2)
Which of the following best describes the objective of a fraud examination? a. To determine whether financial statements are free of misstatements due to fraud b. To make recommendations to management about how to prevent fraud c.
Answers (1)
Grizzly Company had Retained Earnings at December 31, 2018 of $210,000. During 2019, the company had revenues of $410,000 and balance sheet as of December 31, 2019 will be: expenses of $355,000, and the company declared and paid dividends of $12,000.
Answers (1)
Suppose the tax rate on the first $10,000 of income is 0 percent; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $20,000; and 40 percent on income over $60,000. Family A has an income of $55,000.
Answers (2)
On January 1, Gucci Brothers Inc. started the year with a $708,000 balance in Retained Earnings and a $598,000 balance in common stock.
Answers (1)
New Questions in Business
At allen and thomas architects, a group of designers are developing the first drawings for a proposed multiuse office development in an older section of a large city that is being revitalized. what type of work team is this group?
Answers (1)
What is the function of a licensing agreement?
Answers (1)
Soles is a footwear company which has recently set up its store in Ambrosia. To manufacture its products, Soles incurs a range of different costs. Which of the following would be an example of an indirect cost? a. Salary paid to factory workersb.
Answers (1)
The Nolan Corporation finds it is necessary to determine its marginal cost of capital. Nolan's current capital structure calls for 30 percent debt, 20 percent preferred stock, and 50 percent common equity.
Answers (1)
Gaston owns equipment that cost $17,000 with accumulated depreciation of $3,400. Gaston sells the equipment for $12,200.
Answers (1)