Question

Zee Corporation uses Weighted Average Method for costing purposes. Zee adds all material at the beginning...

Zee Corporation uses Weighted Average Method for costing purposes. Zee adds all material at the beginning of the process. Zee had 40,000 units 25% completed at the beginning of the period, 76,000 units were started during the period, and 50,000 units were 20% completed at the end of the period. Zee’s equivalent units for direct materials would be:

A 116000

B 76000

C. 66000

D 146,000

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The correct answer is A) 116000

Calculations

Firstly we have to calculate the units completed and transafered

= beginng inventory + units started - units in ending inventory

= 40000 + 76000 - 50000

= 66000 Units

Equivalent units for material

= (units completed and transferred *100 %) + ( units in ending inventory *100 %)

= (66000*100%) + (50000*100%)

= 66000+50000

= 116000 Units

Thus the correct answer is A) 116000

Note as it is mentioned that material are added at the beginning of the process, that is why ending inventory is 100 % completed with respect to material cost.

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
Zee Corporation uses Weighted Average Method for costing purposes. Zee adds all material at the beginning...
Zee Corporation uses Weighted Average Method for costing purposes. Zee adds all material at the beginning of the process. Zee had 40,000 units 25% completed at the beginning of the period, 76,000 units were started during the period, and 50,000 units were 20% completed at the end of the period. Zee’s equivalent units for conversion cost would be: Select one: a. 146,000 b. 116,000 16,000 c. 76,000 d. 66,000
Zee adds direct materials when the process is 70% complete. If Zee had 500 units, 60%...
Zee adds direct materials when the process is 70% complete. If Zee had 500 units, 60% completed, in process at the beginning of the period, 6,000 units were completed and transferred during the period, and 600 units were 30% completed at the end of the period, what was the number of equivalent units of Direct Material for the period using FIFO? Select one: a. 6,180 b. 6,500 c. 6,680 d. 6,000
Zee adds direct materials when the process is 70% complete. If Zee had 500 units, 60%...
Zee adds direct materials when the process is 70% complete. If Zee had 500 units, 60% completed, in process at the beginning of the period, 6,000 units were completed and transferred during the period, and 600 units were 30% completed at the end of the period, what was the number of equivalent units of Direct Material for the period using FIFO? Select one: a. 6,680 b. 6,000 c. 6,180 d. 6,500
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 33,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 124,000. Units completed and transferred out: 157,000. Ending Inventory: 33,500 units, 100% complete as to materials and 25% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $50,000. Costs in beginning Work in Process -...
Zee Corporation had 3,600 units one-third completed at the beginning of the period, 12,000 units were...
Zee Corporation had 3,600 units one-third completed at the beginning of the period, 12,000 units were completed and transferred during the period, 2,000 units were one-fifth completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period ($8 per unit for Direct Materials): $37,200 Costs added during period: Direct materials $83,200 Direct labor 62,000 Factory overhead 24,800 Assume that all direct...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 26,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 112,000. Units completed and transferred out: 138,000. Ending Inventory: 30,500 units, 100% complete as to materials and 25% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $44,000. Costs in beginning Work in Process -...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 95,000 units, 70% complete as to materials and 20% complete as to conversion. Units started and completed: 280,000. Units completed and transferred out: 375,000. Ending Inventory: 37,500 units, 30% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $52,200. Costs in beginning Work in Process -...
Zee Corporation had 3,600 units one-third completed at the beginning of the period, 12,000 units were...
Zee Corporation had 3,600 units one-third completed at the beginning of the period, 12,000 units were completed and transferred during the period, 2,000 units were one-fifth completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period ($8 per unit for Direct Materials): $37,200 Costs added during period: Direct materials                $83,200 Direct labor                        62,000 Factory overhead              24,800 Assume that all direct materials are placed...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 39,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 138,000. Units completed and transferred out: 177,000. Ending Inventory: 37,000 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $57,000. Costs in beginning Work in Process -...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion. Units started and completed: 250,000. Units completed and transferred out: 330,000. Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process -...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT