In June, one of the processing departments at Furbush Corporation had ending work in process inventory...

In June, one of the processing departments at Furbush Corporation had ending work in process inventory of $12,000. During the month, $404,000 of costs were added to production and the cost of units transferred out from the department was $426,000.

In the department’s cost reconciliation report for January, the cost of beginning work in process inventory for the department would be:

Multiple Choice

$414,000

$10,000

$392,000

$34,000

Solutions

Expert Solution

Cost of Closing Inventory	12000
Add: Cost of Units Transferred Out	426000
Total Cost Assigned for	438000
Less: Current period Costs	404000
Cost of Opening Inventory (Prior Period Costs)	34000

Answer is 34000/-

ekkarill92 answered 2 years ago

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