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Algoma Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs Beginning Inventory 40
Algoma Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs Beginning Inventory 40 $ 230,000. $ 220,000. Started During the Current Period 1200 $ 700,000. $ 1,174,680. Ending Inventory 250 All materials are added at the beginning of the production process. Conversion Costs are added evenly throughout the process. The beginning inventory was 40% complete of the process while the ending inventory was 80% complete. Algoma uses the weighted-average costing method. REQUIRED: What is the TOTAL cost assigned to the ending work in process inventory? a. $ 484,450. b. $ 437,500. c. $ 421,900. d. $ 392,150
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