Weighted-average method in the process of costing system

Assignment Help Accounting Basics

Reference no: EM13124751

The Richmond Company uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the total cost assigned to the ending work in process inventory was:

Reference no: EM13124751

Questions Cloud

Company laid-off : Your team will act as the leader for the organization. Some members of different functional areas of the company are not in favor of the change and do not believe that Kindle will provide the services and products students and instructors need. In or..

Revising a poorly written set of instruction : revising a poorly written set of instructions to make them more readable, accurate, and effective. I have had a personal emergency that has occupied a lot of my time.

What is the budgeted factory labor costs for july : What is the budgeted factory labor costs for July? What amount would appear in the July selling, general, & administrative expense budget?

What is cypress corps maximum cost recovery : Cypress Corp., a calendar year corporation, purchased a $750,000 factory building in February, $240,000 of new machinery in April, $90,000 of new office furniture in August, $130,000 of used machinery in October, and $140,000 of new office furnitu..

Weighted-average method in the process of costing system : The Richmond Company uses the weighted-average method in its process costing system. The company has only a single processing department.

Word problem on linear equation : Lisa participated in a triathlon in which she swam 3 miles ran 5 miles and then bicycled 10 miles. Lisa ran twice as fast as she swam and she cycled three times as fast as she swam.

Why is the budget a far more important document : Why is the budget a far more important document in both governments and not-for-profits than in businesses?

Test the claim that assistant professors earn more : At a probability of type 1 error of 0.05, test the claim that the assistant professors earn more than $42000 per year. the standard deviation of the population is $5230.

Discussion questions on systems of linear equations : By looking at two linear equations, how can you tell that the corresponding lines are parallel, the same graph, or intersecting lines? How many solutions does each possibility have and why is that? Show examples for each possible situation.

User Account

All Pages