Tempe Manufacturing Company makes a single product that is produced on a continu

Question

Tempe Manufacturing Company makes a single product that is produced on a continuous basis in one department. All materials are added at the beginning of production. The total cost per equivalent unit in process in March 2009 was $4.60, consisting of $3.00 for materials and $1.60 for conversion. During the month, 8,700 units of product were transferred to finished goods inventory; on March 31, 2,000 units were in process, 10 percent converted. The company uses weighted average costing.

A) What was the total cost of the beginning work-in-process inventory plus the current manufacturing costs?

Explanation / Answer

cost of units transfered    (4.6 *8700 ) 40020 Ending WIP   : Material     (2000 * 3) 6000 conversion cost   (2000*.10 *1.6) 320 total cost of the beginning work-in-process inventory plus the current manufacturing costs? 46340

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