17. The Nameless Co. uses process costing and has the following information: Materials 1,000 Units completed Units in ending WIP: 6,000 x 60% complete 3,600 6,000 x 40% complete 2.400 Total EU of output 4,600 3,400 *Unit costs were $1.60 per unit for materials and $4.10 per unit for conversion. Determine: a. Cost of ending inventory. ANSWER: Conversion 1,000 b. Cost of goods completed and transferred out. ANSWER: I

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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17. The Nameless Co. uses process costing and has the following information:
Materials
1,000
3,600
2,400
4,600
3,400
*Unit costs were $1.60 per unit for materials and $4.10 per unit for conversion.
Determine: a. Cost of ending inventory.
Units completed
Units in ending WIP:
6,000 x 60% complete
6,000 x 40% complete
Total EU of output
ANSWER:
Conversion
1,000
b. Cost of goods completed and transferred out.
ANSWER:
X
Transcribed Image Text:17. The Nameless Co. uses process costing and has the following information: Materials 1,000 3,600 2,400 4,600 3,400 *Unit costs were $1.60 per unit for materials and $4.10 per unit for conversion. Determine: a. Cost of ending inventory. Units completed Units in ending WIP: 6,000 x 60% complete 6,000 x 40% complete Total EU of output ANSWER: Conversion 1,000 b. Cost of goods completed and transferred out. ANSWER: X
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