Auditing - all computations to at least three decimal...

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#26 - 51. Chabud Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $5,200 50% Conversion costs $2,800 25% A total of 8,100 units were started and 7,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials costs $143,800 Conversion costs $157,200 The ending inventory was 70% complete with respect to materials and 40% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out
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Unformatted text preview: all computations to at least three decimal places. The total cost transferred from the first processing department to the next processing department during the month is closest to: A . A. $332,0 37 B . B. $301,0 00 C . C. $309,0 00 D . D. $281,8 46 Answer Key: C 39 - 144. Hurst Co. manufacturers and sells a single product. Price and cost data regarding this product are as follows: Selling price $40 per unit Variable manufacturing costs $20 per unit Variable selling and administrative expenses $6 per unit Fixed manufacturing overhead $208,000 per year Fixed selling and administrative expenses $324,000 per year How many units need to be sold to earn an annual net operating income equal to 10% of sales? A . A. 44,000 units B . B. 53,200 units C . C. 54,500 units D . D. 47,500 units Answer Key: A...
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Auditing - all computations to at least three decimal...

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