Raider Corporation uses the weighted-average method in its process costing syste

Question

Raider Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January Percent Complete with Respect to Conversion Units 10% Beginning work in process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work in process inventory 7,700 64,000 63,800 7,900 80% The Molding Department's cost per equivalent unit for conversion cost for January was $3.19. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January?

Explanation / Answer

Answer

ending work in process inventory = 7900

equivalent unit of ending WIP = 6320

cost per equivalent unit = 3.19

conversion cost assignrd = 6320 * 3.19

= 20160.8

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