Asked by Elijah Dotson on Jun 17, 2024
Verified
Hutchcroft Corporation uses the weighted-average method in its process costing. The following data concern the company's Assembly Department for the month of June.
During the month, 6,200 units were completed and transferred from the Assembly Department to the next department. Required:Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted-average method.
Weighted-Average Method
A costing method that calculates the cost per unit by dividing the total cost by the total number of units produced, treating all units as equal regardless of when they were actually manufactured.
Assembly Department
A division in a manufacturing plant where components are joined together to form a finished product.
- Understand and apply the weighted-average method in process costing.
Verified Answer
Learning Objectives
- Understand and apply the weighted-average method in process costing.
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