Question
Pokmun Company uses the weighted-average method in its process costing system, in which all materials are added at the beginning of the process, and conversion
Pokmun Company uses the weighted-average method in its process costing system, in which all materials are added at the beginning of the process, and conversion costs are incurred uniformly. The Molding Department started the month with 1,000 units in process that were 70% complete, started 6,600 new units during the period, and had 600 units in process at the end of the period that were 20% complete. It was determined that beginning inventory cost per equivalent unit (EU) was $50/EU and that ending inventory cost per equivalent unit was $48/EU. What is the total dollar value of goods transferred out of the Molding Department?
$316,800
$336,000
$343,000
$350,000
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