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The Work in Process - Finishing account for a company shows the following: WORK IN PROCESS INVENTORY-FINISHING 6/1 Balance 9,200 6/30 Transferred out ?
The Work in Process - Finishing account for a company shows the following: WORK IN PROCESS INVENTORY-FINISHING 6/1 Balance 9,200 6/30 Transferred out ? 6/1 Materials 2,000 6/30 Labor 4,160 6/30 Overhead 3,080 6/30 Balance ? Production records show that there were 2,160 units in beginning work in process inventory that were 50% complete, 8,640 units started into production, and 5,000 units completed and transferred out. The beginning work in process inventory had conversion costs of $3,784. The units in ending work in process inventory were 60% complete as to conversion costs. Materials are added at the beginning of the process. The company uses weighted- average process costing. What is the conversion cost in the June 30 work in process inventory? (Round intermediate calculations to two (2) decimal places.)
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