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Haffner Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Haffner Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Beginning work in process inventory: | |||
Units in beginning work in process inventory | 2,000 | ||
Materials costs | $ | 9,300 | |
Conversion costs | $ | 10,600 | |
Percent complete with respect to materials | 85 | % | |
Percent complete with respect to conversion | 55 | % | |
Units started into production during the month | 8,500 | ||
Units transferred to the next department during the month | 7,600 | ||
Materials costs added during the month | $ | 104,200 | |
Conversion costs added during the month | $ | 185,900 | |
Ending work in process inventory: | |||
Units in ending work in process inventory | 2,900 | ||
Percent complete with respect to materials | 60 | % | |
Percent complete with respect to conversion | 50 | % | |
The cost of ending work in process inventory in the first processing department according to the companys cost system is closest to:
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