Question

Jones Company uses the weighted-average method in its process costing system. The Finishing Department started the month with 400 units in process that were 70% complete, receiving 2,500 units from the Cutting Department. Jones Company had 200 units in process at the end of the period that are 40% complete. All materials are added at the beginning of the process and conversion is added uniformly. From the Finishing Department, units are transferred to Finished Goods. How many units were completed and transferred out of the Finishing Department?

Answer 1

Answer:

Units Completed and Transferred: 2,700

Explanation:

Units Completed and Transferred: Beginning Units in Process + Units Received -  Ending Units in Process

Beginning Units in Process:                400

Units Received:                                 2,500

Ending Units in Process:                     (200)

Units Completed and Transferred:  2,700