Question
In: Accounting
In June, one of the processing departments at Football Corporation had beginning work in process inventory...
In June, one of the processing departments at Football Corporation had beginning work in process inventory of $13,700. During the month, $443,000 of costs were added to production and the cost of units completed and transferred out from the department was $421,000.
In the department’s cost reconciliation report for January, the cost of ending work in process inventory for the department would be:
Multiple Choice
$407,300
$429,300
$8,300
Solutions
Expert Solution
Solution:
Total cost to be accounted for = Beginning WIP cost + Cost added during the month
= $13,700 + $443,000 = $456,700
Cost of units completed and transferred out = $421,000
Cost of Ending WIP = Total cost to be accounted for - Cost of units completed and transferred out
= $456700 - $421000 = $35,700
ekkarill92 answered 2 years agoRelated Solutions
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