FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing …
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In compari…
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Question

Question 1:

 

Assume the following information pertaining to Star Company:

 

Prime costs $ 202,000
Conversion costs 235,000
Direct materials used 89,900
Beginning work in process 104,300
Ending work in process 83,800

 

Total manufacturing cost is calculated to be:

Multiple Choice

$324,900.

$33,000.

$112,100.

$347,100.

$122,900.

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