Carpenter Manufacturing Corporation produces highly specialized technical equipment, which is manufactured in the Product Construction department and tested in the Product Evaluation department. Carpenter has 1 Direct Cost Category (direct materials); 1 Indirect Cost Category (conversion costs); and wishes to compare the Weighted Average versus the FIFO methods of Process Costing.

Data for the Product Construction department for March 2012 is as follows:

Work In Process, March 1: Physical Units 3,081; Direct Materials (96% complete) $554,696; Conversion Costs (56% complete) $167,898

Work added to Production during March: Physical Units 13,633; Direct Materials $2,290,712; Conversion Costs $1,185,943

Work In Process, March 31: Physical Units 2,003; Direct Materials (73% complete) $ ? ; Conversion Costs (35% complete) $ ?

Compute the Total Cost of the Ending Work In Process Inventory (FIFO) in the Product Construction department.

Answer rating: 100% (QA)

Units completed and transfer out 3081 136332003 14711 Computation o... View the full answer