Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first...
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Accounting
Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory
2,600
Materials costs
$ 9,000
Conversion costs
$ 4,300
Percent complete with respect to materials
55%
Percent complete with respect to conversion
25%
Units started into production during the month
8,500
Units transferred to the next department during the month
7,700
Materials costs added during the month
$ 112,100
Conversion costs added during the month
$ 85,200
Ending work in process inventory:
Units in ending work in process inventory
3,400
Percent complete with respect to materials
70%
Percent complete with respect to conversion
55%
The cost of ending work in process inventory in the first processing department according to the companys cost system is closest to: (Round "Cost per equivalent unit" to 3 decimal places. Round "Cost of ending work in process inventory" to the nearest whole dollar amount.)
$49,614
$68,983
$56,070
$46,082
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