Sarver Corporation uses the weighted-average method in its process costing syste

Question

Sarver Corporation uses the weighted-average method in its process costing system. The Fitting Department is the second department in its production process. The data below summarize the department's operations in March. (Do not round Cost per equivalent unit.)

  

The Fitting Department's cost per equivalent unit for conversion cost for March was $8.96. How much conversion cost was assigned to the units transferred out of the Fitting Department during March?

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Sarver Corporation uses the weighted-average method in its process costing system. The Fitting Department is the second department in its production process. The data below summarize the department's operations in March. (Do not round Cost per equivalent unit.)

Explanation / Answer

Conversion cost of units transfered out = 8.96 * 56600

                                                        = $ 507,136

Beginning work in process 7800 Add:Transfered in 53500 Units to be accounted for 61300 Units In Ending Inventory 4700 Units transfered out   (61300-4700) 56600

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