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please show why it is wrong!! A company started a new product, and in the first month started 120,000 units. The ending work in process
please show why it is wrong!!
A company started a new product, and in the first month started 120,000 units. The ending work in process inventory was 22,000 units that were 100% complete with materials and 75% complete with conversion costs. There were 120,000 units to account for, and the equivalent units for materials was $6 per unit while the equivalent units for conversion was $6 per unit. What is the value of the inventory transferred out, using the weighted average inventory method? Answer: 1,176,000 X (1,156,400) Production data show 14,600 units were transferred out of a stage of production and 5,000 units remained in ending WIP inventory that was 100% complete to material and 35% complete to conversion. The unit material cost is $6 for material and $7 for conversion. What is the amount of ending work in process inventory? 42,250 % (41,950)Step by Step Solution
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