In: Accounting
Shiffon Electronics manufactures music player. Its costing
system uses two cost categories, direct materials and conversion...
Shiffon Electronics manufactures music player. Its costing
system uses two cost categories, direct materials and conversion
costs. Each product must pass through the Assembly Department, the
Programming department, and the Testing Department. Direct
materials are added at the beginning of the production process.
Conversion costs are allocated evenly throughout production.
Shiffon Electronics uses weighted-average costing. The following
information is available for the month of March 2017 for the
Assembly department.
Work in process, beginning inventory |
320 units |
|
Conversion costs (30% complete)
Units started during March |
840 units |
Work in process, ending inventory: |
160 units |
Conversion costs (55% complete)
The cost details for the month of March are as follows:
Work in process, beginning inventory:
Direct materials |
$347,500 |
Conversion costs |
$364,000 |
Direct materials costs added during March |
$700,500 |
Conversion costs added during March |
$1,124,000 |
What amount of direct materials costs is assigned to the ending
Work-in-Process account for March?
(Round intermediary calculations to the nearest whole dollar.)