Question
The following information is available for Department C for the month of June: Units Cost Work in process, June 1 (70% complete) 10,000 Direct materials
The following information is available for Department C for the month of June:
|
| Units | Cost |
| Work in process, June 1 (70% complete) | 10,000 |
|
| Direct materials |
| $36,000 |
| Direct labor |
| 18,000 |
| Manufacturing overhead |
| 24,000 |
| Total work in process, June 1 |
| $78,000 |
| Started in production during June | 40,000 |
|
| Costs added |
|
|
| Direct materials |
| $108,000 |
| Direct labor |
| 48,000 |
| Manufacturing overhead |
| 57,600 |
| Total costs added during June |
| $213,600 |
| Work in process, June 30 (80% complete) | 4,000 |
|
|
|
|
|
Materials are added at the beginning of the process.
Calculate the cost of goods transferred out using the weighted average method.
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Managerial Accounting
Authors: James Jiambalvo
4th edition
9780470546888, 9780470333341, 470546883, 470333340, 978-0470578797
