ChemKill Manufacturing produces a chemical pesticide and uses process costing. There are three processing departments—​Mixing, ​Refining, and Packaging. On January​ 1, the first department—Mixing—had a zero beginning balance. During​ January, 44,000 gallons of chemicals were started into production. During the​ month, 34,000 gallons were​ completed, and​ 10,000 remained in​ process, partially completed. In the Mixing​ Department, all direct materials are added at the beginning of the production​ process, and conversion costs are applied evenly throughout the process.   During​ January, the Mixing Department incurred​ $51,000 in direct materials costs and​ $210,200 in conversion costs. At the end of the​ month, the ending inventory in the Mixing Department was​ 60% complete with respect to conversion costs. The weighted−average method is used.   The total cost of the chemical pesticide in ending inventory was​ ________. (Round any intermediate calculations two decimal​ places, and your final answer to the nearest​ dollar.)   A. ​$51,000   B. ​$210,200   C. ​$43,160   D. ​$261,200

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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ChemKill Manufacturing produces a chemical pesticide and uses process costing. There are three processing
departments—​Mixing, ​Refining, and Packaging. On January​ 1, the first department—Mixing—had
a zero beginning balance. During​ January, 44,000 gallons of chemicals were started into production. During the​ month, 34,000 gallons were​ completed, and​ 10,000 remained in​ process, partially completed. In the Mixing​ Department, all direct materials are added at the beginning of the production​ process, and conversion costs are applied evenly throughout the process.
 
During​ January, the Mixing Department incurred​ $51,000 in direct materials costs and​ $210,200 in conversion costs. At the end of the​ month, the ending inventory in the Mixing Department was​ 60% complete with respect to conversion costs. The weighted−average method is used.
 
The total cost of the chemical pesticide in ending inventory was​ ________. (Round any intermediate calculations two decimal​ places, and your final answer to the nearest​ dollar.)
 
A.
​$51,000
 
B.
​$210,200
 
C.
​$43,160
 
D.
​$261,200
Expert Solution
Step 1 Introduction

The value of a company's ending inventory, which is often referred to as closing inventory, refers to the items that are still in stock and available for sale at the conclusion of a certain accounting period. The calculation of a company's final inventory is an essential task for organizations in almost every sector.

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