Question
Assume the following information: Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory20040%30%Units started into production during March6,200Units completed during the period and transferred to the next
Assume the following information:
Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory20040%30%Units started into production during March6,200Units completed during the period and transferred to the next department5,800100%100%Ending work in process inventory60070%60%
Milling DepartmentMaterialsConversionCost of beginning work in process inventory$10,000$15,000Costs added during the period300,000385,000Total cost$310,000$400,000
Using the FIFO method, the total cost of the ending work in process inventory with respect to materials is closest to:
Multiple Choice
- $20,521.
- $21,205.
- $22,141.
- $21,505.
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