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Carla Vista Inc. manufactures a single product in a continuous processing environment. All materials are added at the beginning of the process, and conversion
Carla Vista Inc. manufactures a single product in a continuous processing environment. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. To assign costs to inventories, the company uses weighted-average process costing. The following information was available for 2022: Sales (selling price per unit, $44) $4,892,800 Actual manufacturing overhead 719,400 Selling and administrative expenses 357,520 Unit production costs: Direct materials (1 kilogram) $7.00 Direct labour (1/2 hour) 9.00 Manufacturing overhead 10.00 Total $26.00 Units completed and transferred to finished goods Materials purchased Materials used in process 152,600 units 136,250 kilograms 148,240 kilograms An inventory count at year end (December 31, 2022) revealed that the inventories had the following balances: Raw materials Work in process inventory (45% complete) Finished goods 8,720 kilograms 23,980 units 49,050 units The January 1, 2022, work in process inventory units are 70% complete. The unit cost of production was the same in 2022 as it was in 2021. Calculate the following amounts for Carla Vista Inc.:
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