Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information [The following information applies to the questions displayed below.] Bellevue Chemicals had beginning work-in-process inventory of $239,910 on March 1. Of this
Required information [The following information applies to the questions displayed below.] Bellevue Chemicals had beginning work-in-process inventory of $239,910 on March 1. Of this amount, $101,280 was the cost of direct materials and $138,630 was the cost of conversion. The 24,000 units in the beginning inventory were 45 percent complete with respect to direct materials and 65 percent complete with respect to conversion costs. During March, 58,000 units were transferred out and 14,000 remained in ending inventory. The units in ending inventory were 70 percent complete with respect to direct materials and 15 percent complete with respect to conversion costs. Costs incurred during March amounted to $820,800 for direct materials and $961,200 for conversion. Compute the costs of goods transferred out and the ending inventory for March using the weighted-average method. Note: Do not round intermediate calculations. Cost of goods transferred out S 2,039,905 Ending inventory $ 209,870)
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