A company started a new product, and in the first month started 124,575 units. The ending work in process inventory was 14,775 units that were 100% complete with materials and 65% complete with conversion costs. There were 14,775 units to account for, and the equivalent units for materials was $5 per unit while the equivalent units for conversion was $8 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method?
A company started a new product, and in the first month started 124,575 units. The ending work in process inventory was 14,775 units that were 100% complete with materials and 65% complete with conversion costs. There were 14,775 units to account for, and the equivalent units for materials was $5 per unit while the equivalent units for conversion was $8 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![A company started a new product, and in the first month started 124,575 units.
The ending work in process inventory was 14,775 units that were 100%
complete with materials and 65% complete with conversion costs. There were
14,775 units to account for, and the equivalent units for materials was $5 per
unit while the equivalent units for conversion was $8 per unit. What is the value
of the inventory transferred out, using the weighted-average inventory method?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe6301fad-c117-4c88-be91-d774e49bc359%2F66b310e5-b06c-4c6f-827a-e7808e7e21a7%2Fpq5ywkm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A company started a new product, and in the first month started 124,575 units.
The ending work in process inventory was 14,775 units that were 100%
complete with materials and 65% complete with conversion costs. There were
14,775 units to account for, and the equivalent units for materials was $5 per
unit while the equivalent units for conversion was $8 per unit. What is the value
of the inventory transferred out, using the weighted-average inventory method?
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