Kuzuck Corporation uses the weighted-average method in its process costing syste
ID: 2480046 • Letter: K
Question
Kuzuck 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:
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
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 cost per equivalent unit answers to 2 decimal places.)
$23,994
$10,306
$15,457
$39,638
Kuzuck Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Explanation / Answer
Equivalent Units:Average method Input Particulars Output % com-Mater EQU-Mater % com-Conversion EQU-Conversion 450 Opening WIP 11,200 Introdused Transferred out 10,200 100 10,200 100 10,200 Closing WIP 1,450 60 870 20 290 11,650 11,650 11,070 120 10,490 Total Cost Statement and Cost per EQU Particulars Opening cost$ Current cost$ Total cost$ EQU cost per EQU $ Material cost 5,300 1,25,326 1,30,626 11070 11.80 Conversion cost 4,100 1,83,671 1,87,771 10490 17.90 Total 9,400 3,08,997 3,18,397 29.70 Cost of transferred units particulars EQU Cost per EQU Total Material 10200 11.80 1,20,360 Labour and oH 10200 17.90 1,82,580 Total 29.70 3,02,940 Cost WIP particulars EQU Cost per EQU Total Material 870 11.80 10,266 Labour and oH 290 17.90 5,191 Total 15,457
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.