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5 August, 15:27

In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $16,000 and ending work in process inventory of $21,000. During the month, the cost of units transferred out from the department was $151,000. In the department's cost reconciliation report for July, the total cost to be accounted for under the weighted-average method would be:

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  1. 5 August, 16:21
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    the total cost to be accounted for under the weighted-average method would be: $172,000

    Explanation:

    Hint : Total Cost of Inputs must equal Total Costs of Outputs

    Total Cost To be Accounted for is calculated as follows:

    Cost of Ending Work in process Inventory $21,000

    Add Cost of units transferred out from the department $151,000

    Total Cost To be Accounted for $172,000
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