Kuzuck Corporation uses the weighted-average method in Its process costing syste

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: Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials 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: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 1,350 $8,400 $5,300 65% 30% 11,900 12,300 $110,004 950 60% 20% 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 companys cost system is closest to: (Round your cost per equivalent unit answers to 2 decimal places.) O $8,569 O $17106 O $32,750 O $3,418

Explanation / Answer

Materials Conversion Units completed and transferred 12300 12300 Ending work in process 570 190 Equivalent units 12870 12490 Total costs 118404 218575 Cost per Equivalent unit 9.2 17.5 Cost of ending work in process=(570*9.2)+(190*17.5)= $8569 Option 1 is correct

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