What is the total cost of the work in process, Cost Accounting

Assignment Help:

The Cutting Department of the Rock Island Custom Cabinetry Corporation (a process costing production) had no work in process at the beginning of the period, 12,000 units were completed during the period, 1,000 units were 40% completed at the end of the period, and the following manufacturing costs were debited to the Work in Process-Cutting Department during the period:
Direct materials (13,000 lbs. at $6.00/lb.) $78,000
Direct Labor 105,000
Factory Overhead 78,000
1. Assuming all direct materials are placed in process at the beginning of production, what is the total cost of the Work in Process-Cutting Department inventory at the end of the period?
a. $6,400
b. $8,400
c. $10,000
d. $4,000
e. $11,000
2. Assuming that all direct materials are placed in process at the beginning of production, what is the total cost of the 12,000 units completed in the Cutting Department during the period?
a. $120,000
b. $186,462
c. $192,000
d. $78,000
e. $110,000


Related Discussions:- What is the total cost of the work in process

Cost accounting, Cost accounting as a descriptive or analytical discipline

Cost accounting as a descriptive or analytical discipline

Prepare journal enteries to record the requisition slips, Stine Company use...

Stine Company uses a job order cost system. On May 1 st , the company has a balance in Work in Process Inventory of 3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 4

Accrued income, Accrued income is an amount earned although not in reality ...

Accrued income is an amount earned although not in reality received during the accounting period or till the date of preparation of last accounts for the period concerned. The firs

Piece rate system - labour remuneration, Piece Rate System - Labour Remuner...

Piece Rate System - Labour Remuneration However an employee is paid a fixed amount for all units produced irrespective of time in use; the wages payable are computed like fo

Costs and revenue, Costs and Revenue Cost of the development work ...

Costs and Revenue Cost of the development work done in-house to 1 January 2009 has been £1.5m with a further cost of £50,000 per month from now until the software is ready

Explain how individual items of costs will be traced, Glaser Health Product...

Glaser Health Products of Ranier Falls, Georgia, is organized functionally into three divisions: Operations, Sales, and Administrative. Purchasing, receiving, materials and product

Variable costs, Variable Costs Are costs such raise or fall proportio...

Variable Costs Are costs such raise or fall proportionately along with the level of activity that is such portion of the cost of an activity which changes along with the leve

Qualitative characteristic of understandability means, The enhancing qualit...

The enhancing qualitative characteristic of understandability means that information should be understood by a those who are experts int eh interpretation of financial informat

Determine the current price of shares, 2. Blue-Jay Sporting Goods is a star...

2. Blue-Jay Sporting Goods is a start-up company that expects to earn $3.00 per share next year. Since the firm currently retains 100 percent of earnings to finance future grow

Calculate the tax base of the interest received, Prepare answers to each of...

Prepare answers to each of the following questions.  Assume a tax rate of 30%. (i) Harry Ltd has a balance of prepaid rent in the balance sheet amounting to $100 000 as at 30 Ju

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd