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Vikki [24]
3 years ago
7

A company uses the weighted-average method for inventory costing. At the end of the period, 22,000 units were in the ending Work

in Process inventory and are 100% complete for materials and 75% complete for conversion. The equivalent costs per unit are materials, $2.65 and conversion $5.35. Compute the cost that would be assigned to the ending Work in Process inventory for the period.a. $146,575.b. $176,000.c. $87,725.d. $93,775.e. $132,000.
Business
1 answer:
ExtremeBDS [4]3 years ago
7 0

Answer:

a.The ending work in process inventory is $ 146,575

Explanation:

To determine the ending work in process inventory, we need to do the following computations:

No of units in ending inventory                                    22,000 units

Material cost in ending inventory

22,000 units * 100 % (completion) * $ 2.65                     $ 58,300  

Conversion costs in ending inventory  

22,000 units * 75 % (completion) * $ 5.35                      <u> $ 88,275</u>

Total value of Ending work in process inventory        <u> $ 146,575</u>

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