Business High School

A company uses the weighted-average method for inventory costing. At the end of the period, 19,000 units were in the ending Work in Process inventory and are 100% complete for materials and 68% complete for conversion. The equivalent costs per unit are materials, $2.58, and conversion $2.20. Compute the cost that would be assigned to the ending Work in Process inventory for the period.

Answers

Answer 1

Answer: $77,444

Explanation:

Given the following :

Ending work in process inventory = 19,000 units

Complete for materials = 100%

Complete for conversion = 68%

Equivalent cost per unit (material) = $2.58

Equivalent cost per unit (conversion) = $2.20

Cost of ending work in process inventory (materials) :

Cost per unit (material) * (ending work in process inventory) * complete for material

$2.58 * 19000 * 100% = $49,020

Cost of ending work in process inventory (conversion) :

Cost per unit (conversion) * (ending work in process inventory) * complete for conversion

$2.20 * 19000 * 68% = $49,020

$2.20 * 19000 * 0.68 = $28,424

Total cost (ending work in process inventory) :

Material cost + conversion cost

$49,020 + $28,424 = $77444

Related Questions

Lawrence recently bought a brand new Bentley Mulsanne, a very expensive car, but he is suffering from buyer's remorse. He wishes he would have bought something that made a bigger impression on the ladies at the Taco Bell drivethrough. Howard, however, recently purchased a preowned '86 Camaro with a flame job on the hood from a car dealer, and when he rolls through Taco Bell with the T-tops off, the drive-through ladies are always staring at his car and his mullet hairdo. Howard is far more satisfied with his car than Lawrence. From a marketing point of view, which of the following concepts has contributed to Howard feeling satisfied with this purchase?
a. CRM implementation
b. Howard's full partnership with his '86 Camaro
c. Perceived value of the car
d. Customer loyalty

Answers

Answer:

The marketing concept that contributed to Howard feeling satisfied with his purchase of "a preowned '86 Camaro with a flame job on the hood" is

c. Perceived value of the car

Explanation:

Howard evaluates the merits of this preowned '86 Camaro as it has the ability to satisfy his needs for winning the attention of the drive-through ladies at Taco Bell. When he "rolls through the Taco Bell with the T-tops off the ladies keep staring at his car." It is this attention that he needs. And the car investment ensures that he achieves this attention from the ladies. Howard's feeling of satisfaction is accentuated the more when compared with the less-than-impressive attention that Lawrence pools with the girls, while driving his expensive Bentley Mulsanne through the same Taco Bell.

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