The following cost information is available for July for the Crest Plant at Calvert Company: Beginning...
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The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total $ 62,720 39,648 $ 102,368 $ 138,880 417,312 $ 556,192 Materials are added at the beginning of the process. The following quantities have been recorded: • Beginning inventory, 44,800 partially complete gallons, 25 percent complete with respect to conversion costs. • Units started in July, 89,600 gallons. • Units transferred out in July, 100,800 gallons. • Ending inventory, 33,600 gallons, 40 percent complete with respect to conversion costs. Cost of goods transferred out total Ending inventory total Required: Compute the cost of goods transferred out and the ending inventory for July using the weighted-average method. Note: Do not round your intermediate calculations. The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total $ 62,720 39,648 $ 102,368 $ 138,880 417,312 $ 556,192 Materials are added at the beginning of the process. The following quantities have been recorded: • Beginning inventory, 44,800 partially complete gallons, 25 percent complete with respect to conversion costs. • Units started in July, 89,600 gallons. • Units transferred out in July, 100,800 gallons. • Ending inventory, 33,600 gallons, 40 percent complete with respect to conversion costs. Cost of goods transferred out total Ending inventory total Required: Compute the cost of goods transferred out and the ending inventory for July using the weighted-average method. Note: Do not round your intermediate calculations.
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