PA4. LO 5.3 During March, the following costs were charged to the manufacturing department: $14,886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 equivalent units of conversion. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?

Solution

	Total	Materials	Conversion
Transferred out
Ending work in process
Total units
Costs
Cost per unit
Costs accounted for
Transferred out
Work in process: materials
Work in process: conversion
Work in process: total
Costs accounted for