Question
October 1, 2017, Alpha Company started a new production operation using the weighted average method of process costing. During October, 9,000 units were started and
October 1, 2017, Alpha Company started a new production operation using the weighted average method of process costing. During October, 9,000 units were started and 7,000 were transferred to finished goods. The October 31, work in process inventory was 100% complete as to material costs and 60% complete as to conversion costs. Material costs for the month of October were $27,000 and conversion costs were $36,900. Use this information to determine: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)
1. the total costs transferred to finished goods inventory for October 2017
2. the cost that should be assigned to Alpha' work in process inventory at the end of October 2017
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