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:Beginning
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 .......................... 600
Materials costs ......................................................................... $7,000
Conversion costs ..................................................................... $2,300
Percent complete with respect to materials............................. 55%
Percent complete with respect to conversion .......................... 25%
Units started into production during the month ........................... 6,500
Units transferred to the next department during the month ........ 5,700
Materials costs added during the month ..................................... $110,100
Conversion costs added during the month ................................. $83,200
Ending work in process inventory:
Units in ending work in process inventory ............................... 1,400
Percent complete with respect to materials............................. 70%
Percent complete with respect to conversion .......................... 70%
In the department's cost reconciliation report for August, what would the cost of units transferred out of
the department be? Please show as much calculations as possible. Thank you!
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