ocess inventory: ork in process inventory
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Kurtulus Corporation uses the weighted-average method in its process costing system. Data
concerning the first processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory
Materials costs
Conversion costs
Percent complete with respect to materials
Percent complete with respect to conversion
Units started into production during the month
Units transferred to the next department during the month
Materials costs added during the month
Conversion costs added during the month
Ending work in process inventory:
Units in ending work in process inventory
Percent complete with respect to materials
Percent complete with respect to conversion
S
$
$
S
1,000
7,400
2,700
55 %
25 %
6,900
6,100
110,500
83,600
1,800
70 %
55 %
The cost of ending work in process inventory in the first processing department according to the
company's cost system is closest to: (Round your intermediate calculations to 3 decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feb92fe95-3966-43e3-9d36-800e71a4f8cd%2F34415835-850f-426f-aadc-507ddcaa3e88%2Fmaaqkcb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Kurtulus Corporation uses the weighted-average method in its process costing system. Data
concerning the first processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory
Materials costs
Conversion costs
Percent complete with respect to materials
Percent complete with respect to conversion
Units started into production during the month
Units transferred to the next department during the month
Materials costs added during the month
Conversion costs added during the month
Ending work in process inventory:
Units in ending work in process inventory
Percent complete with respect to materials
Percent complete with respect to conversion
S
$
$
S
1,000
7,400
2,700
55 %
25 %
6,900
6,100
110,500
83,600
1,800
70 %
55 %
The cost of ending work in process inventory in the first processing department according to the
company's cost system is closest to: (Round your intermediate calculations to 3 decimal places.)
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