opter -Quiz 3 (Cumulative) 6 Help Save& Exit Submit 17 Kurtulus Corporation uses

Question

opter -Quiz 3 (Cumulative) 6 Help Save& Exit Submit 17 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 vork in process inventory Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respeet to conversion 1,400 7,800 $ 3,100 258 Units started into production during the month 7,300 Units transferred to the next department during the month 6,500 $110,900 $ 84,000 Materials costs added during the month Conversion costs added during the month Ending work in process inventory Units in ending work in process inventory Percent complete with respect to materiala Percent complete with respect to conversion 2,200 70% 558 The totai cost transferred from the first processing department to the next processing department during the morth is closest to Mutiple Choice $69.397

Explanation / Answer

Materials Conversion Units transferred 6500 6500 Ending work in process inventory 1540 1210 Equivalent units 8040 7710 Opg Wip Cost 7800 3100 Cost Added during the month 110900 84000 Total costs 118700 87100 Cost per Equivalent unit         14.76             11.30 Total cost transferred = 6500*(14.76+11.30)= $169390 Option 2 is correct

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