Question: Kurtulus Corporation uses the weighted average method in its process costing system. Data concerning the first processing department for the most recent month we listed
Kurtulus Corporation uses the weighted average method in its process costing system. Data concerning the first processing department for the most recent month we listed below Beginning work in process inventory: Units in beginning work in process inventory 2,100 Materials costs $ 3,500 Conversion costs $ 3,800 Percent complete with respect to materials 555 Percent complete with respect to conversion 25 Units started into production during the month 8,000 Units transferred to the next department during the month 7,200 Materials costs added during the month $ 111,600 Conversion costs added during the month $ 84,708 Ending work in process inventory: Units in ending work in process inventory 2,900 Percent complete with respect to materials 784 Percent complete with respect to conversion 55% The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round "Cost per equivalent unit to 3 decimal places. Round "Cost of ending work in process inventory to the nearest whole dollar amount.)
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