Required information [The following information applies to the questions displayed below.] Bellevue Chemicals had beginning work-in-process inventory of $243,400 on March 1. Of this amount, $102,180 was the cost of direct materials and $141,220 was the cost of conversion. The 24,060 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, 58,090 units were transferred out and 14,300 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 $844,410 for direct materials and $979,151 for conversion. a-1. Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method. a-2. Is the ending inventory higher or lower under the weighted-average method compared to FIFO? Complete this question by entering your answers in the tabs below. Req A1 Req A2 Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Cost of goods transferred out Cost of ending inventory
Required information [The following information applies to the questions displayed below.] Bellevue Chemicals had beginning work-in-process inventory of $243,400 on March 1. Of this amount, $102,180 was the cost of direct materials and $141,220 was the cost of conversion. The 24,060 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, 58,090 units were transferred out and 14,300 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 $844,410 for direct materials and $979,151 for conversion. a-1. Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method. a-2. Is the ending inventory higher or lower under the weighted-average method compared to FIFO? Complete this question by entering your answers in the tabs below. Req A1 Req A2 Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Cost of goods transferred out Cost of ending inventory
Chapter1: Financial Statements And Business Decisions
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![Required information
[The following information applies to the questions displayed below.]
Bellevue Chemicals had beginning work-in-process inventory of $243,400 on March 1. Of this amount, $102,180 was the
cost of direct materials and $141,220 was the cost of conversion. The 24,060 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, 58,090 units were transferred out and 14,300 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 $844,410 for direct materials and $979,151 for conversion.
a-1. Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method.
a-2. Is the ending inventory higher or lower under the weighted-average method compared to FIFO?
Complete this question by entering your answers in the tabs below.
Req A1
Req A2
Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
Cost of goods transferred out
Cost of ending inventory](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffda67312-4d20-4967-9cc7-de6dbb1d1ae1%2F2b07c3dd-d402-401c-a12b-58163d2367d2%2Fxsylgo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Bellevue Chemicals had beginning work-in-process inventory of $243,400 on March 1. Of this amount, $102,180 was the
cost of direct materials and $141,220 was the cost of conversion. The 24,060 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, 58,090 units were transferred out and 14,300 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 $844,410 for direct materials and $979,151 for conversion.
a-1. Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method.
a-2. Is the ending inventory higher or lower under the weighted-average method compared to FIFO?
Complete this question by entering your answers in the tabs below.
Req A1
Req A2
Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
Cost of goods transferred out
Cost of ending inventory
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