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9 January, 05:32

W Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 17,000 units. The total cost in the beginning work in process inventory was $24,800. A total of 51,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.40 for materials and $3.10 for conversion costs. The total cost of the units completed and transferred out of the department was:

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  1. 9 January, 07:31
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    Answer: Total cost of the units completed and transferred out of the department was $229500.

    Explanation:

    Given that,

    Total units were transferred out of the department during the month = 51,000

    costs per equivalent unit for materials = $1.40

    costs per equivalent unit for conversion costs = $3.10

    Therefore,

    Total cost of the units completed and transferred out of the department was:

    = Total units transferred * costs per equivalent unit for materials + Total units transferred * costs per equivalent unit for conversion costs

    = 51000 * $1.40 + 51000 * $3.10

    = 71400 + 158100

    = $229500
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