Timekeeper Inc.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.Timekeeper Inc.uses weighted-average costing.
Data for the Assembly Department for June 2017 are:
Costs for June 2017:
What amount of direct materials costs is assigned to the ending Work-in-Process account for June?
(Round intermediary calculations to the nearest whole dollar. )
Definitions:
Exchange Rate
A measure representing how much one currency can be exchanged for another, impacting international trade and finance.
British Pounds
The currency of the United Kingdom, used as a medium of exchange within the country and its territories.
Balance on Goods
Balance on goods refers to the difference between a country's exports and imports of physical products, excluding services.
Services Surplus
Services Surplus describes a situation where the value of exported services of a country exceeds the value of its imported services, contributing positively to its trade balance.
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