Bellevue Chemicals had beginning work-in-process inventory of $253,885 on March 1. Of this amount, $102,205 was the cost of direct materials and $151,680 was the cost of conversion. The 24,300 units in the beginning inventory were 45 percent complete with respect to direct materials and 65 percent complete with respect to conversion costs. During March, 58,450 units were transferred out and 15,500 remained in ending inventory. The units in ending inventory were 70 percent complete with respect to direct materials and 15 percent complete with respect to conversion costs. Costs incurred during March amounted to $944,225 for direct materials and $1,051,665 for conversion. Compute the costs of goods transferred out and the ending inventory for March using the weighted-average method. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Cost of goods transferred out= Ending Inventory=
Bellevue Chemicals had beginning work-in-process inventory of $253,885 on March 1. Of this amount, $102,205 was the cost of direct materials and $151,680 was the cost of conversion. The 24,300 units in the beginning inventory were 45 percent complete with respect to direct materials and 65 percent complete with respect to conversion costs.
During March, 58,450 units were transferred out and 15,500 remained in ending inventory. The units in ending inventory were 70 percent complete with respect to direct materials and 15 percent complete with respect to conversion costs. Costs incurred during March amounted to $944,225 for direct materials and $1,051,665 for conversion.
Compute the costs of goods transferred out and the ending inventory for March using the weighted-average method.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
Cost of goods transferred out=
Ending Inventory=
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