Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,000 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $8,800. During the period, 8,000 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $4.00 for material and $5.00 for conversion costs. The cost of units transferred out during the month was: Multiple Choice O 0 0 $40,000 $80,800 $63,200 $72,000

Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,000 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $8,800. During the period, 8,000 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $4.00 for material and $5.00 for conversion costs. The cost of units transferred out during the month was: Multiple Choice O 0 0 $40,000 $80,800 $63,200 $72,000

Name: Mundes Corporation uses the weighted-average method in its process co
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Description: Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,000 units that were 60% complete with respectto materials and 40% complete with resp

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process Inventory In Its Painting Department consisted of 3,400 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process Inventory in the department was recorded as $10,200. During the period, 9,400 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $5.40 for material and $6.40 for conversion costs. The cost of units transferred out during the month was: Multiple Choice $83,600 О $110,920 $66,000 $60,160
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