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Kimbeth Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The following information pertains to operations for the month
Kimbeth Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The following information pertains to operations for the month of May. Units Beginning work-in-process inventory, May 1 17,500 Started in production during May 95,000 Completed production during May 89,000 Ending work-in-process inventory, May 31 32,000 The beginning inventory was 60% complete for materials and 20% complete for conversion costs. The ending inventory was 90% complete for materials and 40% complete for conversion costs. Costs pertaining to the month of May are as follows: Beginning inventory costs are materials, $59,560; direct labor, $21,650; and overhead, $19,360. Costs incurred during May are materials used, $464,360; direct labor, $195,000; and overhead, $379.720 Using the FIFO method, Kimbeth's total cost of units in the ending work-in-process inventory at May 31 is
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