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Kurtlus 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:
Kurtlus 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 600
in process inventory
Materials costs $7,000
Conversion costs $2,300
Percent complete 55%
with respect to materials
Percent complete with 25%
respect to conversion
Units started into 6,500
production during
the month
Units transferred 5,700
to the next department
during the month
Material costs $110,100
added during the
month
Conversion costs $83,200
added during the month
Ending work in process inventory:
Units in ending work 1,400
in process inventory
Percent complete 70%
with respects to materials
Percent complete 55%
with respects to conversion
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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