Question: Carmon Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were: material costs cost percent complete $16,400 85% conversion costs $9,200 60% A total of 7,900 units were started and 6,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Material costs: $171,500 Conversion costs: $137,100 The ending inventory was 70% complete with respect to materials and 35% complete with respect to conversion costs. What is the total cost transferred from the first processing department to the next processing department during the month is closest to: $334,200 $367,616 $294,947 $308,600
Question: Carmon Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were: material costs cost percent complete $16,400 85% conversion costs $9,200 60% A total of 7,900 units were started and 6,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Material costs: $171,500 Conversion costs: $137,100 The ending inventory was 70% complete with respect to materials and 35% complete with respect to conversion costs. What is the total cost transferred from the first processing department to the next processing department during the month is closest to: $334,200 $367,616 $294,947 $308,600
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Question:
Carmon Corporation uses the weighted-average method in its process
costing system. This month, the beginning inventory in the first processing
department consisted of 700 units. The costs and percentage completion of
these units in beginning inventory were:
material costs
cost
percent complete
$16,400 85%
conversion costs $9,200
60%
A total of 7,900 units were started and 6,900 units were transferred to the
second processing department during the month. The following costs were
incurred in the first processing department during the month:
Material costs: $171,500
Conversion costs: $137,100
The ending inventory was 70% complete with respect to materials and 35%
complete with respect to conversion costs.
What is the total cost transferred from the first processing department to
the next processing department during the month is closest to: $334,200
$367,616 $294,947 $308,600
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