Using the Weighted Average Method of process costing, what is the dollar value of inventory transferred...

Using the Weighted Average Method of process costing, what is the dollar value of inventory transferred out of the department?

Please round rates to $0.01 and inventory amounts to $1.

	units	percent complete	cost
WIP, beginning	3,053	44 %	37,486
Started	274,793		2,603,144
WIP, ending	1,270	50

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Expert Solution

Costs to account for		Costs

Work in process, beginning		37,486
Started in production		2,603,144

Total costs to account for		2,640,630
Equivalent units		277,211
Weighted average cost per equivalent unit		9.53

Costs accounted for as follows:
completed and transferred out		2,635,769
		[9.53*276576]

WIP ending		6,052
		[9.53*635]

Total costs accounted for		2,641,821

Inventory transferred out is $2,635,769

Units movement	Physical units	Equivalent units

WIP beginning	3,053
started during current period	274,793
Units to account for	277,846

WIP ending percentage completion		50%
completed and transferred out during the period	276,576	276,576
WIP ending units	1,270	635
Total units to account for	277,846	277,211

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ekkarill92 answered 1 year ago

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