Merced Corporation has a process costing system and uses the first-in, first-out method. For May, the company's beginning work in process inventory was 75% complete with respect to conversion, and the ending work in process inventory was 80% complete with respect to conversion. Information on units processed and conversion costs incurred during May follow: The amount of conversion cost in the ending work in process inventory was:
A) $84,000
B) $80,000
C) $222,700
D) $68,000

Question

Merced Corporation has a process costing system and uses the first-in, first-out method. For May, the company's beginning work in process inventory was 75% complete with respect to conversion, and the ending work in process inventory was 80% complete with respect to conversion. Information on units processed and conversion costs incurred during May follow:  The amount of conversion cost in the ending work in process inventory was:
A) $84,000 
B) $80,000 
C) $222,700 
D) $68,000

Quizplus · Accepted Answer

The Answer of Merced Corporation has a process costing system and uses the first-in, first-out method. For May, the company's beginning work in process inventory was 75% complete with respect to conversion, and the ending work in process inventory was 80% complete with respect to conversion. Information on units processed and conversion costs incurred during May follow:  The amount of conversion cost in the ending work in process inventory was:
A) $84,000 
B) $80,000 
C) $222,700 
D) $68,000

Merced Corporation Has a Process Costing System and Uses the First-In