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

Question

Raider Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department’s operations in January.

The Molding Department’s cost per equivalent unit for conversion cost for January was $3.39. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January?

Multiple Choice

$22,126.70

$33,561.00

$26,848.80

$6,712.20

Units Percent Complete with
Respect to Conversion Beginning work in process inventory 9,700 10 % Transferred in from the prior department during January 84,000 Completed and transferred to the next department during January 83,800 Ending work in process inventory 9,900 80 %

Explanation / Answer

C. $26,848.80

Amount of conversion cost was assigned to the ending work in process inventory in the Molding Department for January:

= 9,900 * 80% * $3.39

= $26,848.80

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