Question

Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...

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

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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