Question
A department uses the weighted average method of process costing. All direct materials are added when units are 50% complete with respect to conversion costs.
A department uses the weighted average method of process costing. All direct materials are added when units are 50% complete with respect to conversion costs. This department has the following data for this month.
222 units in beginning WIP (58% complete with respect to conversion costs).
10,401 units started
110 units in ending WIP (11% complete with respect to conversion costs).
$23 direct material cost per equivalent unit
$22 conversion cost per equivalent unit
What is the department's total cost of ending WIP for this month (round final answer to nearest cent if necessary)?
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