Answer the following questions using the information below:
The Cuckoo Clock Shop manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Cuckoo Clock Shop uses weighted-average costing.

-What amount of conversion costs are assigned to the ending Work-in-Process account for June?
A) $70,555.50
B) $63,225.25
C) $90,074
D) $509,78.32

Question

Answer the following questions using the information below:
The Cuckoo Clock Shop manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Cuckoo Clock Shop uses weighted-average costing.
 
-What amount of conversion costs are assigned to the ending Work-in-Process account for June?
A) $70,555.50 
B) $63,225.25 
C) $90,074 
D) $509,78.32

Quizplus · Accepted Answer

Conversion costs are assigned to the ending Work-in-Process account for June in the amount of $70,555.50. This is because the ending Work-in-Process account represents the costs of production that have been incurred but not yet completed as of the end of the period. These costs include the costs of direct labor, manufacturing overhead, and any other costs that are incurred during the production process.

Answer the Following Questions Using the Information Below