Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Kurtulus 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:
Kurtulus 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 | 2,100 | ||
Materials costs | $ | 8,500 | |
Conversion costs | $ | 3,800 | |
Percent complete with respect to materials | 55 | % | |
Percent complete with respect to conversion | 25 | % | |
Units started into production during the month | 8,000 | ||
Units transferred to the next department during the month | 7,200 | ||
Materials costs added during the month | $ | 111,600 | |
Conversion costs added during the month | $ | 84,700 | |
Ending work in process inventory: | |||
Units in ending work in process inventory | 2,900 | ||
Percent complete with respect to materials | 70 | % | |
Percent complete with respect to conversion | 55 | % | |
The total cost transferred from the first processing department to the next processing department during the month is closest to: (Round "Cost per equivalent unit" to 3 decimal places.)
Garrison 16e Rechecks 2017-08-28
Garrison 16e Rechecks 2019-08-02
Multiple Choice
-
$189,115
-
$166,140
-
$204,805
-
$179,815
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started