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. Units Percent Complete with Respect to Conversion Beginning work in process inventory 7,100 70% Transferred in from the prior department during March 61,000 Ending work in process inventory 4,600 30% The Fitting Department's cost per equivalent unit for conversion cost for March was $8.24. How much conversion cost was assigned to the units transferred out of the Fitting Department during March?

Explanation / Answer

Conversion cost of units transfered out = $8.24*63,500

Conversion cost of units transfered out = $523,240

Beginning work in process $7,100 Add:Transfered in $61,000 Units to be accounted for $68,100 Units In Ending Inventory $4,600 Units transfered out   (68100-4700) $63,500

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