Kurtulus Corporation uses the weighted-average method in its process costing sys

Question

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 600 $ 7,000 $ 2,300 Materials costs Conversion costs Percent complete with respect to materials 55% 25% Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work in process inventory: 6,500 5, 700 $110,100 $ 83,200 Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 1,400 70% 558 The total cost transferred from the first processing department to the next processing department during the month is closest to: (Round "Cost per equivalent unit" to 3 decimal places.)

Explanation / Answer

Equivalent unit :

Cost per equivalent unit :

Total cost transferred from the first processing department to next department = (17.53+13.215)*5700 = 175246.50 or $175247

Whole unit % EUP-material % EUP-Conversion Units transferred out 5700 100% 5700 100% 5700 Ending work in process 1400 70% 980 55% 770 Total 7100 6680 6470

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