Monk, Inc. reported the following results for the month of November.

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Required
a. How many units were completed and transferred out of Work in Process Inventory?
b. What cost should be assigned to the units transferred out of Work in Process Inventory?
c. What cost should be assigned to the ending Work in ProcessInventory?

Transcribed Image Text:

Units Materials Conversion Work in process Beginning inventory Added to production Completed and transferred out? Ending inventory $5,900 47,300 $15,000 65,000 40,000 60% complete 40% complete Cost per equivalent unit $0.40 $0.64