Question

Given the second process in a two-process manufacturer for January, 20X1:
Inventory in process, January 1, 50% completed ..... 10,000 units
Completed and transferred out of process in January ..... 40,000 units
Started into process in January ............. 50,000 units
Inventory in process, January 31, 30% completed ........ ???
Direct-material costs, January 1 inventory .......... $ 40,000
Direct-material costs, current costs ............ $120,000
Conversion costs, January 1 inventory .......... $ 30,000
Conversion costs, current costs ............. $246,000
Transferred-in costs, January 1 inventory .......... $ 50,000
Transferred-in costs, current costs ............ $250,000
Conversion costs are incurred uniformly during the process, while direct material is added when units are 40% complete.
Assuming Weighted average, what is the dollar valuation of the units transferred out for the month?



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  • CreatedNovember 19, 2014
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