Oleksy Corporation uses the weighted-average method in its process costing. The

Question

Oleksy Corporation uses the weighted-average method in its process costing. The following data concern the company's Assembly Department for the month of June Materials Conversion S 31.30 Cost per equivalent unit Equivalent units in ending work in process S 27.00 510 1,510 During the month, 7,100 units were completed and transferred from the Assembly Department to the next department Required: Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted-average method Total Amount Cost of ending work in process inventory 61033 Cost of units completed and transferred out S413.930

Explanation / Answer

Your answer is correct.

Cost of work in process inventory =   Material cost + Conversion cost Material cost =   1,510*$31.30 = $47,263 Conversion cost =   510*$27 = $13,770 Cost of work in process inventory =   $47,263+$13,770 = $61,033

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