The abnormal spoilage is 20000 units. all spoilage occurred, Ask an Expert

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Atlantic Manufacturing Company uses process costing. All materials are added at the beginning of the process. The normal spoilage rate is 10% of good units completed. The cost of the beginning work-in-process in the month of May is $3,000,000, including $1,600,000 of input of materials, 200,000 units, and $1,400,000 for conversion costs. The beginning work-in-process is 70% complete. During May, the input includes $6,400,000 for materials, 800,000 units and $8,200,000 for conversion costs. There were 800,000 good units finished. In addition, the ending work-in-process in May is 100,000 units, 60% complete. The abnormal spoilage is 20,000 units. All spoilage occurred when all processing was complete, at the final inspection.

Required: Use the weighted-average method to find out:

(1) The dollar value of abnormal spoilage.

(2) The cost of the good units finished.

(3) The cost of ending work-in-process inventory.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M955885

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