Maxire Shoes Manufactures Shoes

question 117

Essay

Maxire Shoes manufactures shoes.All direct materials are included at the inception of the production process.For March,there were 2,800 units in beginning inventory with a direct material cost of $1,400.Direct materials totaled $35,000 for the month.Work-in-process records revealed that 70,000 units were started in March and that 60,000 were finished.Normal spoilage of 2% of units finished was incurred.Ending work-in-process units are complete in respect to direct materials costs.Spoilage is not detected until the process is complete.Endicott uses the weighted-average method.
Required:
a.What are the direct materials costs assigned to completed good units?
b.What are the direct material amounts allocated to the work-in-process ending inventory?

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Definitions:

Mind, Body, Spirit

A holistic approach to health that emphasizes the interconnection and balance between the mental, physical, and spiritual aspects of an individual.

Closed System

A physical system that does not exchange matter with its surroundings, though it may exchange energy.

Multiple Injuries

The occurrence of more than one injury in an individual, often resulting from accidents or violence, which may complicate treatment and recovery.

Data Collection

The process of gathering and measuring information from various sources to get a complete and accurate picture of an area of interest.