Question: K Corporation uses the weighted average method in its process costing system. Data concerning the first processing department for the most recent month are listed
K Corporation uses the weighted average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 1,500 Materials costs $ 7,900 Conversion costs $ 3,200 Percent complete with respect to materials 55% Percent complete with respect to conversion 25% Units started into production during the month 7,400 Units completed and transferred to the next department during the 6,600 month Materials costs added during the month $111,000 Conversion costs added during the month $ 84,100 Ending work in process inventory: Units in ending work in process inventory 2,300 70% Percent complete with respect to materials 55% Percent complete with respect to conversion The total cost of units completed and transferred from the first processing department to the next processing department during the month is closest to: (Round your intermediate calculations to 3 decimal places.)
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