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 $ 56,000 35,400 $ 91,400 $ 124,000 372,600 $ 496,600 Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 40,000 partially complete gallons, 25 percent complete with respect to conversion costs. • Units started in July, 80,000 gallons. • Units transferred out in July, 90,000 gallons. • Ending inventory, 30,000 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. 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 $ 56,000 35,400 $ 91,400 $ 124,000 372,600 $ 496,600 Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 40,000 partially complete gallons, 25 percent complete with respect to conversion costs. • Units started in July, 80,000 gallons. • Units transferred out in July, 90,000 gallons. • Ending inventory, 30,000 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.
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