Question: Kurtulus 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:
Kurtulus 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 | 900 | ||
| Materials costs | $ | 7,300 | |
| Conversion costs | $ | 2,600 | |
| Percent complete with respect to materials | 55 | % | |
| Percent complete with respect to conversion | 25 | % | |
| Units started into production during the month | 6,800 | ||
| Units transferred to the next department during the month | 6,000 | ||
| Materials costs added during the month | $ | 110,400 | |
| Conversion costs added during the month | $ | 83,500 | |
| Ending work in process inventory: | |||
| Units in ending work in process inventory | 1,700 | ||
| Percent complete with respect to materials | 70 | % | |
| Percent complete with respect to conversion | 55 | % | |
The total cost 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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