In: Accounting
Mountainside Industries manufactures specialized plastic boxes
in two processes: Molding and Packaging. In the Packaging
Department, materials are added at the end of the process. The
following data are given:
Costs | ||||||||
Units | Trans.-in | Materials | Conv. | |||||
Work in process, July 1 | 30 | $1,590 | $ 0 | $ 513 | ||||
Transferred in during July | ? | |||||||
Completed during July | 105 | |||||||
Work in process, July 31 | 15 | |||||||
Costs added during July | $4,410 | $1,050 | $1,767 |
The conversion process on the beginning inventory is 70 percent
completed and the ending inventory is 60 percent completed.
Rounded to two decimal places, Mountainside's costs transferred out
using weighted average would be