{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Quiz 2_Solution - cost of $315,228 during the year...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
6A:130 Spring 2008 Quiz 2 Name: SOLUTION Class Time: 1:05 ____ or 2:20 ____ Quiz 2 is due at the beginning of class on Thursday, February 14, 2008. If you do not show your work, you will receive zero (0) points. Bubbles Inc. began the year with 15,000 units in department 3 beginning WIP. These units were one- third complete, with $40,470 transferred-in cost for prior departments work and $14,322 for department 3 conversion costs. During the year, 93,000 additional units were transferred into department 3 from department 2 at a cost of $224,130. Department 3 incurred material costs of $166,840 and conversion
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: cost of $315,228 during the year. Department 3 ended the year with 11,000 units in WIP ending inventory. These units were 40% complete. Required: Assume that conversion costs are incurred evenly and materials are added in department 3 when units are 60% complete. Determine the: Cost of goods completed (and transferred out): $720,092 . (SEE ATTACHED SCHEDULE FOR WORK) Cost of ending WIP: $40,898 . (SEE ATTACHED SCHEDULE FOR WORK) Pg. 2 of 2...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern