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Home Q & A Board Other Fields Homework Help Business Economics
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ruskin ruskin
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Posts: 664
Rep: 12 1
6 years ago
Assuming Hawk uses the FIFO method of process costing, the cost of the ending work-in-process inventory is
A) $23,040.
B) $23,142.
C) $28,800.
D) $28,920.
E) $19,200.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
Authors:
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Replies
wrote...
#1
6 years ago
B
Explanation:  B) Cost per EU for DM = [$280,000]/87,000 ,= $3.22
Cost per EU for Conversion = [$599,400]/93,300 = $6.42
Ending WIP: $9,660 + $13,482 = $23,142
Direct materials 3,000 units @ $3.22 = $9,660
Conversion costs 2,100 units @ $6.42 = $13,482
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