Progressive company produces one product in a process-costing system involving several departments. The first department's costs and
Question:
Progressive company produces one product in a process-costing system involving several departments. The first department's costs and output for the month of April are as follows: units:
Beginning wip *15,000units
Started during April 140,000 units
Completed during April 120,000
Units sending wip **35,000units
Costs:
Beginning wip: direct materials$25,750
Conversion costs 3,225 $28,975
Direct materials added in current month 168,000
Conversion costs in current month 186,000
Total costs to account for $382,975
* 100% completed for materials, 40% completed for conversion costs*
* 100% completed for materials, 30% completed for conversion costs
Required:
compute the cost of work completed and the cost of the ending work-in-process inventory using the weighted-average method.
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson