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