Use the information below to answer the following question(s).
Craft Concept manufactures small tables in its Processing Department. Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to non-detectable materials defects. Inspection occurs at the end of the process. Spoiled units generally constitute 5 percent of the good units. Data for December are as follows:

-What are the amounts of direct materials and conversion costs assigned to ending work-in-process using the weighted-average process costing method?

Question

Use the information below to answer the following question(s).
Craft Concept manufactures small tables in its Processing Department. Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to non-detectable materials defects. Inspection occurs at the end of the process. Spoiled units generally constitute 5 percent of the good units. Data for December are as follows:
 
-What are the amounts of direct materials and conversion costs assigned to ending work-in-process using the weighted-average process costing method?

Quizplus · Accepted Answer

Direct materials = 8,000 units × $3.00 = $24,000
Conversion costs = 5,200 units × $3.60 = $18,720

Use the Information Below to Answer the Following Question(s)