Company manufactures widgets and they use process costing. The status of their beginning and ending inventory is as follows: Beg. Inventory 30% of the manufacturing process is complete. Ending Inventory 55% of the manufacturing process is complete. Direct materials are added to the manufacturing process in stages. None are added when production begins. Approximately 1/2 of the materials are added
when the product is 25% complete. The other half is added when the product is 50% complete. What % complete are Beginning Inventory and Ending Inventory with respect to Direct materials(DM) and Conversion Costs(CC)?
A) Beg.Inventory DM-50% CC-30%End.Inventory DM-100% CC-55%
B) Beg.Inventory DM-50% CC-30%End.Inventory DM-55% CC-55%
C) Beg.Inventory DM-30% CC-30%End.Inventory DM-55% CC-55%
D) Beg.Inventory DM-50% CC-70%End.Inventory DM-100% CC-45%
A
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