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 1,600 Materials costs $ 8,000 Conversion costs $ 3,300 Percent complete with respect to materials 55% Percent complete with respect to conversion 25% Units started into production during the month 7,500 Units transferred to the next department during the month 6,700 Materials costs added during the month $ 111,100 Conversion costs added during the month $ 84,200 Ending work in process inventory: Units in ending work in process inventory 2,400 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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