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 2,100 Materials costs $ 8,500 Conversion costs $ 3,800 Percent complete with respect to materials 55% 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 $ 84,700 Ending work in process inventory: Units in ending work in process inventory 2,900 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 "Cost per equivalent unit" to 3 decimal places.)
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