Consider the following data for the assembly division of Gannett Watches ​Company: The assembly division uses the​ weighted-average method of process costing. Compute the unit cost of a completely finished watch.Physical Units (Watches) Direct Materials Conversion CostsBeginning​ work-in-process (May 1)a 78 $49,770 $67,350Started in May 2021 495 0 0Completed during May 2021 443 0 0Ending​ work-in-process (May 31)b 130 0 0Total costs added during May 2021 $3,240,000 $1,410,000a. Degree of​ completion: direct​ materials, 90%; conversion​ costs, 40%.b. Degree of​ completion: direct​ materials, 40​%; conversion​ costs, 20​%.

Consider the following data for the assembly division of Crayton Corp.: The assembly division uses the​ weighted-average method of process costing. Compute the unit cost of a completely finished watch. Physical UnitsDirectConversion (Watches)MaterialsCosts Beginning​ work-in-process (May 1) (a)95$491,000$94,984 Started in May 2018525    Completed during May 2018450    Ending​ work-in-process (May 31)(b)170    Costs added during May 2018  $3,218,880$1,400,000 (a)Degree of​ completion: direct​ materials, 90%; conversion​ costs, 40%.(b)Degree of​ completion: direct​ materials, 70​%; conversion​ costs, 30​%.

Consider the following data for the assembly division of Fenton Watches ​Company: The assembly division uses the​ weighted-average method of process costing. Compute the unit cost of a completely finished watch.Physical Units (Watches) Direct Materials Conversion CostsBeginning​ work-in-process (May 1)a 95 $491,000 $94,984Started in May 2021 525 0 0Completed during May 2021 450 0 0Ending​ work-in-process (May 31)b 170 0 0Total costs added during May 2021 $3,218,880 $1,400,000a. Degree of​ completion: direct​ materials, 90%; conversion​ costs, 40%.b. Degree of​ completion: direct​ materials, 70​%; conversion​ costs, 30​%.

A business produces and sells watches. In 2015, 4000 watches were produced and 3600watches were sold. Other information for the year included the following:$ per unitdirect materials 60direct labour 80variable selling expenses 15fixed manufacturing overheads 45fixed administrative costs 50What is the cost of goods sold for 2015 if the business uses absorption costing?A $558 000 B $666 000 C $720 000 D $740 000

Primare Corporation provided the following data for last month’s manufacturing operations. Purchases of raw materials $ 30,000 Indirect materials used in production $ 4,840 Direct labor $ 58,700 Manufacturing overhead applied to work in process $ 88,000 Underapplied overhead $ 4,160 Inventories Beginning Ending Raw materials $ 10,700 $ 19,700 Work in process $ 54,400 $ 69,800 Finished goods $ 34,800 $ 43,500 Required: Prepare a schedule of cost of goods manufactured. Prepare a schedule of cost of goods sold. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.

Item 7Gordon Corporation produced 10,000 digital watches in the current year. Variable costs are $8 per watch. Overhead assigned is $2.25 per watch. A supplier offers the watches for $9.50 each. Gordon's production manager reports the incremental overhead is $1.25 per watch. Gordon should:Multiple ChoiceContinue making the watches as an additional $1.50 per watch would be incurred if bought from the supplier.Continue making the watches as an additional $0.25 per watch would be incurred if bought from the supplier.Buy the watches as they would save $0.75 per watch.Buy the watches as they would save $1.50 per watch.Buy the watches as they would save $1.75 per watch.