1. In April, one of the processing departments at Terada Corporation had $25,000 of in-process starting inventory...
Question:
2. Kurtuluş A.Ş. uses the weighted average method in the process costing system. Data for the first processing department for the most recent month are listed below:
Starting work in process inventory:
Units starting work in process inventory 1,600
Material cost $8,000
Conversion cost $3,300
Percent complete by materials 55%
Completion by conversion 25% Percentage complete by
conversion Units that start production during the month 7,500
Number of units transferred to the next department in the month 6,700
Material costs added during the month $111,100
Conversion costs added during the month $84,200
Process Finishing work in
process inventory: 2,400 Percent
complete by materials 70%
Complete by conversion 55%
Calculate total cost transferred from first machining department to the next machining department during the month.
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins