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Author Question: Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two ... (Read 77 times)

melly21297

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on: Mar 6, 2021
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted-average costing.

Data for the Assembly Department for June 2017 are:
Work in process, beginning inventory370 units
 Direct materials (100% complete)
 Conversion costs (50% complete)

Units started during June1030 units
Work in process, ending inventory:160 units
 Direct materials (100% complete)
 Conversion costs (70% complete)

Costs for June 2017:
 Work in process, beginning inventory:
Direct materials$91,500
Conversion costs$138,000
Direct materials costs added during June$602,000
Conversion costs added during June$404,000
What is the total amount debited to the Work-in-Process account during the month of June?
◦ $229,500
◦ $1,006,000
◦ $1,144,000
◦ $1,235,500
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by melly21297 on Mar 6, 2021

atrochim

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Reply #1 on: Mar 6, 2021
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melly21297

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Reply 2 on: Mar 6, 2021
Wow, this really help

Chelseyj.hasty

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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