Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
| Beginning work in process inventory: | |||
| Units in beginning work in process inventory | 1,300 | ||
| Materials costs | $ | 7,700 | |
| Conversion costs | $ | 3,000 | |
| Percent complete with respect to materials | 55 | % | |
| Percent complete with respect to conversion | 25 | % | |
| Units started into production during the month | 7,200 | ||
| Units transferred to the next department during the month | 6,400 | ||
| Materials costs added during the month | $ | 110,800 | |
| Conversion costs added during the month | $ | 83,900 | |
| Ending work in process inventory: | |||
| Units in ending work in process inventory | 2,100 | ||
| Percent complete with respect to materials | 70 | % | |
| Percent complete with respect to conversion | 55 | % | |
The cost of ending work in process inventory in the first processing department according to the company’s cost system is closest to: (Round your intermediate calculations to 3 decimal places.)
Multiple Choice
$32,753
$52,122
$39,209
$35,419
answer $35419
Equivalent units of production under weighted average method
| Particular | material | conversion |
| Units completed and transferred out |
(6400×100%) 6400 |
(6400×100%) 6400 |
| Ending inventory |
(2100×70%) 1470 |
(2100×55%) 1155 |
| Equivalent units of production | 7870 | 7555 |
cost per Equivalent unit
| Particular | material | conversion |
| a) beginning inventory | $7700 | $3000 |
| b) cost during the month | $110800 | $83900 |
| C) total cost (a+b) | $118500 | $86900 |
| d) equivalent units | 7870 | 7555 |
| Cost per Equivalent unit(c/d) | $15.06 | $11.50 |
Cost of ending inventory
Material = 1470×$15.06= $22137
Conversion = 1155×$11.50 = $13282
Cost of ending inventory = $22137+$13282 = 35419
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