Question

Parnelli Tires uses a process costing system and has 1,600 tires remaining in its Belting Department's...

Parnelli Tires uses a process costing system and has 1,600 tires remaining in its Belting Department's Work in Process inventory at month end. These tires are 90% and 40% complete with regard to materials and conversion costs, respectively. There were 6,500 tires completed and transferred out during the period. Conversion costs during the beginning of the month were $69,300 and added during the period were $116,340. How much is the conversion cost of the ending Work in Process?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Hi

Let me know in case you face any issue:

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Jeffery Ltd uses a process costing system. Its Spackling Department had no beginning Work in Process...
Jeffery Ltd uses a process costing system. Its Spackling Department had no beginning Work in Process inventory. The department added direct materials of $200,000 and conversion costs of $321,300 during the period. Materials are added at the beginning of the process and conversion costs are added evenly throughout the process. During the period 75,000 units were completed, and at the end of the period, 5,000 units remained which were 30% complete. How much is transferred to the Finished Goods inventory...
Tannenbaum Corporation uses the weighted average method in its process costing system. This month, the beginning...
Tannenbaum Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were:                                                             Cost                % complete             Materials costs                        5,700               65%             Conversion costs                     6,800               45% A total of 6,500 units were started and 5,900 units were transferred to the second processing department during the month. The first processing department incurred $125,500 of materials...
Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first...
Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 2,500 Materials costs $ 14,600 Conversion costs $ 6,700 Percent complete with respect to materials 75 % Percent complete with respect to conversion 20 % Units started into production during the month 11,200 Units completed and transferred to the next department during...
Jarvene Corporation uses the FIFO method in its process costing system. The following data are for...
Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments: Units in beginning inventory 410 Units started into production 4,330 Units in ending inventory 330 Units transferred to the next department 4,410 Materials Conversion Percentage completion of beginning inventory 70 % 30 % Percentage completion of ending inventory 90 % 50 % The cost of beginning inventory according to the company’s...
Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...
Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 2,500 Materials costs $ 14,600 Conversion costs $ 6,700 Percent complete with respect to materials 75 % Percent complete with respect to conversion 20 % Units started into production during the month 11,200 Units transferred to the next department during the month 10,100...
Process costing system. Bakel Inc. uses the weighted-average method in its process costing system. The following...
Process costing system. Bakel Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company’s first processing department for a recent month. Work in process, beginning: Units in process............300 Stage of completion with respect to materials..........60% Stage of completion with respect to conversion...........60% Cost in the beginning inventory: Materials cost ...........$1,314 Conversion cost ..........$ 6,102 Units started into production during the month ......... 22,000 Units completed and transferred out........21,800 Costs added to...
Garrison Corporation uses the FIFO method in its process costing system. Data concerning the first processing...
Garrison Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work-in-process inventory: Units in beginning work-in-process inventory 600 Material costs $6,600 Conversion costs $2,700 Percent complete with respect to materials 60% Percent complete with respect to conversion 10% Units started into production during the month 7,000 Materials cost added during the month $102,200 Conversion costs added during month $259,200 Ending work-in-process inventory Ending work-in-process...
Ltd., of Fiji uses the weighted-average method in its process costing system. It makes blended tropical...
Ltd., of Fiji uses the weighted-average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Units Materials Conversion Work in process, beginning 96,000 70% 40% Started into production 460,500 Completed and...
Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...
Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 1,300 Materials costs $ 13,400 Conversion costs $ 5,500 Percent complete with respect to materials 75 % Percent complete with respect to conversion 20 % Units started into production during the month 10,000 Units transferred to the next department during the month 8,900...
Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its process costing system. It makes...
Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Units Materials Conversion Work in process, beginning 62,000 70% 40% Started into production 316,000...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT