Question: Ford company uses the weighted average method in its process costing system. The company has only a single processing department. The company's ending work in
Ford company uses the weighted average method in its process costing system. The company has only a single processing department. The company's ending work in process Inventory consisted of 36,000 unlts. The units in the ending work in process were 50% complete with respect to materials and 30% complete with respect to labor and overhead. If the costs per equivalent unit for the current perlod were $5.50 for materials and $8.50 for labor and overhead, the total cost assigned to the ending work In process Inventory should have been A. $151,200 B. $160,200 C. $252,000 D. $ 190,800 E. Some other amount which was $ - The beginning inventory in the Milling Department consisted of 10,000 units 50% complete for materials and 60% complete for conversion. The total cost of the beginning inventory $60,000. During the month, 50,000 units were transferred out of this department. The equivalent unit cost was computed as $4 for materlals and $7.40 for conversion costs under the weighted average method. The total cost of the units completed and transferred out of this department would have been computed as: A. $480,000 B. $510,000 C. $540,000 D. $570,000 Using the data from #19, there were 1,000 units in the ending inventory which were 70% complete for materials and 40% for conversion, the amount of material costs in the ending inventory balance would have been: A. $1200 B. $2800 C. $2960 D. $5740 E. Some other amount which would be $
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