14 Carpenter Corporation uses the weighted-average method in its process costing

Question

14 Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning Inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units In beginning inventory were: 0-41.27 Materials costs Converaion costs $5,200 $8,500 60% 558 A total of 7,800 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month Materials costs 95,000 Conversion costs $169,200 The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. How many units are in eneling work in process inventory in the first processing department at the end of the month? Multiple Choice 1,300 Prex 14 of 25l! Next>

Explanation / Answer

Answer:-

Where:-

Ending inventory in work in process:-

Opening invnetory+Units introduced-Units completed (Transferred to next process)

=600+7800-7100 = 8400-7100 =1300 units

Statment of Equivalent Production units Under Weighted Average Cost Method Particluars Input Units Particulars Output Units Equivalent Production % Direct Material % Conversion Costs Opening Work in process 600 Units completed (Transferred to next process) 7100 100 7100 100 7100 Units introduced 7800 Closing work in process 1300 85 1105 70 910 Total 8400 8400 8205 8010

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