Business, 11.05.2021 02:40 leta18

Matrix Inc. calculates cost for an equivalent unit of production using weighted average method . Data for July: Work in process inventory, July 1 (36,000 units) Direct materials (100 % completed)$122,400 Conversion (50 % completed) 76,800 Balance in work in process inventory, July 1$199,200 Units started during July 90,000 Units completed and transferred 102,000 Work in process inventory, July 31 24,000 Direct materials (100% completed) Conversion (50% completed) Cost incurred during July: Direct materials$180,000 Conversion costs 288,000 The cost of goods completed and transferred out under the weighted-average method is calculated to be: A. $96,000 B. $476,400 C. $571,200 D. $484,000

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Answer from: rivermadds1514

Matrix Inc.

The cost of goods completed and transferred out under the weighted-average method is calculated to be:

C. $571,200

Explanation:

a) Data and Calculations:

Data for July:

Work in process inventory, July 1 (36,000 units)

Direct materials (100 % completed) $122,400

Conversion (50 % completed) 76,800

Balance in work in process inventory, July 1 $199,200

Units started during July 90,000

Units completed and transferred 102,000

Work in process inventory, July 31 24,000

Direct materials (100% completed)

Conversion (50% completed)

Cost incurred during July:

Direct materials$180,000

Conversion costs 288,000

Physical flow:

Work in process inventory, July 1 (36,000 units)

Units started during July 90,000

Units completed and transferred 102,000

Work in process inventory, July 31 24,000

Units Direct materials Conversion

Equivalent units of production:

Units completed and transferred 102,000 102,000 102,000

Ending work in process 24,000 24,000 (100%) 12,000 (50%)

Total equivalent units 126,000 114,000

Cost of production:

Direct materials Conversion Total

Beginning work in process $122,400 $76,800 $199,200

Costs incurred during July 180,000 288,000 468,000

Total production costs $302,400 $364,800 $667,200

Cost per equivalent unit:

Direct materials Conversion

Total production costs $302,400 $364,800

Total equivalent units 126,000 114,000

Cost per equivalent unit $2.40 $3.20

Cost assigned to: Direct materials Conversion Total

Completed and transferred out $244,800 $326,400 $571,200

Ending work in process 57,600 38,400 96,000

Total costs assigned $302,400 $364,800 $667,200

Answer from: Quest

The answer is letter a

Answer from: Quest

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

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Matrix Inc. calculates cost for an equivalent unit of production using weighted average method . Dat...

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