A manufacturing company uses the weighted-average method in its process costing system. Operating data for the first pro department for the most recent period appear below for the number of units, direct material (DM) costs, and conversion cos.. Production data: Beginning work in process (WIP) inventory Started into production during the period Units completed during the period and transferred out Ending WIP inventory Cost data: Beginning WIP inventory Cost added during the period DM Units 1,200 12,000 12,200 ??? $12,320 $32,480 % of completion (DM) CC 20% 60% $22,660 $61,840 % of completion (CC) 50% 80% Q. Under the weighted-average method, what is the total cost of ending work in process inventory? THE
A manufacturing company uses the weighted-average method in its process costing system. Operating data for the first pro department for the most recent period appear below for the number of units, direct material (DM) costs, and conversion cos.. Production data: Beginning work in process (WIP) inventory Started into production during the period Units completed during the period and transferred out Ending WIP inventory Cost data: Beginning WIP inventory Cost added during the period DM Units 1,200 12,000 12,200 ??? $12,320 $32,480 % of completion (DM) CC 20% 60% $22,660 $61,840 % of completion (CC) 50% 80% Q. Under the weighted-average method, what is the total cost of ending work in process inventory? THE
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:A manufacturing company uses the weighted-average method in its process costing system. Operating data for the first pro
department for the most recent period appear below for the number of units, direct material (DM) costs, and conversion cos..
Production data:
Beginning work in process (WIP) inventory
Started into production during the period
Units completed during the period and transferred out
Ending WIP inventory
Cost data:
Beginning WIP inventory
Cost added during the period
DM
Units
1,200
12,000
12,200
???
$12,320
$32,480
% of
completion
(DM)
CC
20%
60%
$22,660
$61,840
% of
completion
(CC)
50%
80%
Q. Under the weighted-average method, what is the total cost of ending work in process inventory? THE
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