07-05-2011, 03:42 AM
I am trying to figure out some problems for my class and I am not understanding how to complete this with the information given. Here is the problem
Company uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1100 units. The costs and percentages completion of these units in beginning inventory were
Materials 3700 50% complete
Conversion 3000 30% complete
A total of 8100 units were started and 6400 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 Cost 156525
Conversion Cost 158928
The ending inventory was 75% complete with respect to materials and 50% complete with respect to conversion costs.
The total cost transferred from the firt processing department to the next processing departmnet during the month is closest to
A. 253504
B. 364412
C. 322153
D. 315453
Any help in solving/explaining how to complete this type of problem would be greatly appreciated!
Company uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1100 units. The costs and percentages completion of these units in beginning inventory were
Materials 3700 50% complete
Conversion 3000 30% complete
A total of 8100 units were started and 6400 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 Cost 156525
Conversion Cost 158928
The ending inventory was 75% complete with respect to materials and 50% complete with respect to conversion costs.
The total cost transferred from the firt processing department to the next processing departmnet during the month is closest to
A. 253504
B. 364412
C. 322153
D. 315453
Any help in solving/explaining how to complete this type of problem would be greatly appreciated!
