Author Question: Assume the following: WIP, beginning 4500 units (100% complete as to direct materials, 40% complete ... (Read 75 times)

drink · **on:** Mar 6, 2021

Question 1

700 shirts are sold as seconds at $18 per shirt. Cost of spoiled shirts is $501,400. Cost of shirts at inspection point equals $9,508,000. Calculate the net cost of the spoilage.
◦ $9,495,400
◦ $488,800
◦ $514,000
◦ $9,520,600

Question 2

Assume the following:

WIP, beginning 4500 units (100% complete as to direct materials, 40% complete as to conversion costs)
Started 12,500 units during the period
Total spoilage is 800 with normal spoilage is calculated to be 350 units
Completed and transferred out during the period 10,000 units
WIP, ending 6200 units (100% complete as to direct materials, 50% complete as to conversion costs)
Spoiled units 800 and inspection happens when the process is 30% complete
All materials are added at the start of the process

Under the weighted average method, would would be the equivalent units of work done for the period?
◦ 9405
◦ 10,000
◦ 6200
◦ 13,340

mistyjohnson · **Reply #1 on:** Mar 6, 2021

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