Weighty Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs $4,700 32,400 Beginning Inventory Started During the Current Period Ending Inventory 3,500 20,300 3,100 $5,900 78,400 All materials are added at the beginning of the production process. The beginning inventory was 40% complete as to conversion, while the ending inventory was 25% completed for conversion purposes. Weighty uses the weighted-average costing method. What is the total cost assigned to the units completed and transferred this period? (Round intermediary dollar amounts to the nearest cent and total costs to the nearest whole dollar.)
Weighty Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs $4,700 32,400 Beginning Inventory Started During the Current Period Ending Inventory 3,500 20,300 3,100 $5,900 78,400 All materials are added at the beginning of the production process. The beginning inventory was 40% complete as to conversion, while the ending inventory was 25% completed for conversion purposes. Weighty uses the weighted-average costing method. What is the total cost assigned to the units completed and transferred this period? (Round intermediary dollar amounts to the nearest cent and total costs to the nearest whole dollar.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Weighty Steel processes a single type of steel. For the current period the following information is given:
Units Material Costs Conversion Costs
$4,700
$5,900
78,400
32,400
Beginning Inventory
Started During the Current Period
Ending Inventory
3,500
20,300
3,100
All materials are added at the beginning of the production process. The beginning inventory was 40% complete as to conversion, while the
ending inventory was 25% completed for conversion purposes.
Weighty uses the weighted-average costing method.
What is the total cost assigned to the units completed and transferred this period? (Round intermediary dollar amounts to the nearest cent and
total costs to the nearest whole dollar.)
OA. $113,643
B. $106,320
C. $121,400
D. $103,190
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