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 | 2,400 |
| Materials costs | $ 8,800 |
| Conversion costs | $ 4,100 |
| Percent complete with respect to materials | 55% |
| Percent complete with respect to conversion | 25% |
| Units started into production during the month | 8,300 |
| Units transferred to the next department during the month | 7,500 |
| Materials costs added during the month | $ 111,900 |
| Conversion costs added during the month | $ 85,000 |
| Ending work in process inventory: | |
| Units in ending work in process inventory | 3,200 |
| Percent complete with respect to materials | 70% |
| Percent complete with respect to conversion | 55% |
The cost of ending work in process inventory in the first processing department according to the companys 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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