Tong, Inc Is a Manufacturing Company That Uses a Process Costing

question 130

Multiple Choice

Tong, Inc. is a manufacturing company that uses a process costing system. All direct material is added at the start of the process, and spoilage is discovered at the end. During the first period of operations 15,000 units of material were placed into production at a cost of $20 each (ignore conversion costs for this process) . Ending work in process was 2,000 units, good units completed totalled 11,000 units, and normal spoilage is 15% of the units surviving inspection. Inspection takes place after the units are completed. The unit cost assigned to the good units completed is:

• A)$-0-
• B)$20.00
• C)$24.00
• D)$23.00

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Definitions:

Media Conglomerates

Large corporations that own a significant number of media companies across various communication platforms.

North America

A continent located in the Northern Hemisphere, largely in the Western Hemisphere, and bounded by the Arctic Ocean, Atlantic Ocean, Pacific Ocean, and the Caribbean Sea.

Europe

A continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere, known for its rich history, cultural diversity, and economic influence.

Japan

An island country located in East Asia known for its rich culture, advanced technology, and historical significance.