Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kuzuck 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:

Kuzuck 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 1,100
Materials costs $9,000
Conversion costs $5,500
Percent complete with respect to materials 65%
Percent complete with respect to conversion 30%
Units started into production during the month 10,900
Units transferred to the next department during the month 10,900
Materials costs added during the month $130,876
Conversion costs added during the month $180,204
Ending work in process inventory:
Units in ending work in process inventory 1,100
Percent complete with respect to materials 60%
Percent complete with respect to conversion 20%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The total cost transferred from the first processing department to the next processing department during the month is closest to: (Round your cost per equivalent unit answers to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Wiley CPAexcel Exam Review 2016 Study Guide January Auditing And Attestation

Authors: O. Ray Whittington

1st Edition

1119119960, 978-1119119968

More Books

Students also viewed these Accounting questions