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:

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 total cost transferred from the first processing department to the next processing department during the month is closest to: (Round your cost per equivalent unit answers to 2 decimal places.)

$373,910

$334,800

$343,331

$349,731

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

WACC Equivalent Unit Of Production Physical units Direct material Conversion costs Add :Completed Units 10800 10800 10800 (11200+850-1250) Add :Ending Invenotry 1250 750 250 Equivalent Unit Of Production 11550 11050 Material 11550 Conversion Costs 11050 Cost Per Equivalent Unit Total Production costs Direct Materials Conversion Costs Work in Progress 17600 12300 5300 Current Period Cost 330800 122835 207965 348400 135135 213265 No of Equivalent units 11550 11050 Cost Per Equivalent Units                     11.70                         19.30 $ Material             11.70 Conversion Costs             19.30 Cost of Ending Inventory Total Cost Direct Materials Conversion Costs No of Equivalent units (A) 750 250 Cost Per Equivalent Units (B)                     11.70                         19.30 Cost (A X B)                          13,600                     8,775                         4,825 Cost of goods transferred out Of Inventory Total Cost Direct Materials Conversion Costs No of Equivalent units (A) 10800 10800 Cost Per Equivalent Units (B)                     11.70                         19.30 Cost (A X B)                        334,800                126,360                     208,440 The total cost transferred from the first processing department to the next processing department during the month Cost of Goods Transfered 334,800.00

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