During March, the following costs were charged to the manufacturing department: $14,886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in the ending inventory. There were 33,080 equivalent units of material and 31,640 conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work-in-process inventory?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 4PB: During March, the following costs were charged to the manufacturing department: $22,500 for...
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During March, the following costs were charged to the manufacturing
department: $14,886 for materials; $14,656 for labor; and $13,820 for
manufacturing overhead. The records show that 30,680 units were
completed and transferred, while 2,400 remained in the ending
inventory. There were 33,080 equivalent units of material and 31,640
conversion costs.
Using the weighted-average method, what is the cost of inventory
transferred and the balance in work-in-process inventory?
Transcribed Image Text:During March, the following costs were charged to the manufacturing department: $14,886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in the ending inventory. There were 33,080 equivalent units of material and 31,640 conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work-in-process inventory?
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