Assume the following information: Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Milling Department Cost of beginning work in process inventory Costs added during the period Units 200 6,200 5,800 600 Percent Complete Materials Conversion 40% 30% 100% 70% 100% 60% Materials $ 10,000 287,000 Conversion $ 15,000 385,000 $ 297,000 $ 400,000 Total cost Using the weighted-average method, the total cost of the units completed during the period and transferred out to the next department with respect to materials is closest to:

Assume the following information: Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Milling Department Cost of beginning work in process inventory Costs added during the period Units 200 6,200 5,800 600 Percent Complete Materials Conversion 40% 30% 100% 70% 100% 60% Materials $ 10,000 287,000 Conversion $ 15,000 385,000 $ 297,000 $ 400,000 Total cost Using the weighted-average method, the total cost of the units completed during the period and transferred out to the next department with respect to materials is closest to:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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