Robert & Linda Company follow the Weighted-Average method for inventory valuation and started the period with...

 

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Robert & Linda Company follow the Weighted-Average method for inventory valuation and started the period with Work-in-Progress (WIP) Inventory of 1100 units. Direct Materials (DM) costs and Conversion Costs (CC) in the beginning WIP Inventory are $585 and $740 respectively. During the period, an additional 4070 units having $2000 of DM costs and $2524 of CC were added to the WIP Inventory. Total equivalent units of work done for DM and CC were 5170 units and 4800 units in that order. At the end of the period, the company had 300 units in ending inventory that were 100% complete with respect to DM and 20% complete with respect to CC. Calculate the total cost of units completed and moved out of the WIP Inventory. Robert & Linda Company follow the Weighted-Average method for inventory valuation and started the period with Work-in-Progress (WIP) Inventory of 1100 units. Direct Materials (DM) costs and Conversion Costs (CC) in the beginning WIP Inventory are $585 and $740 respectively. During the period, an additional 4070 units having $2000 of DM costs and $2524 of CC were added to the WIP Inventory. Total equivalent units of work done for DM and CC were 5170 units and 4800 units in that order. At the end of the period, the company had 300 units in ending inventory that were 100% complete with respect to DM and 20% complete with respect to CC. Calculate the total cost of units completed and moved out of the WIP Inventory.

Answer rating: 100% (QA)

To calculate the cost of units completed and moved out of the WIP Inventory we need to find the equi... View the full answer