Answer:
Total cost added including beginning inventory
Raw material = $136,000
Overheads = $180,960
Total = $316,960
Explanation:
As provided the opening Work in process units = 5,000 units
Units started during the period = 37,500 questions
Closing work in process = 8,000 units
That means units produced = opening + additions - closing
= 5,000 + 37,500 - 8,000 = 34,500 units
Provided cost of beginning inventory = $16,000 for raw material and $12,000 for overheads
Also it is 100% complete for raw material and 50% complete for overheads
That means raw material per unit = $16,000/5,000 = $3.20
And the overheads 100% = $12,000 2 = $24,000
Overhead per unit = $24,000/5,000 = $4.80
Therefore, cost added during the period
Shall be
Raw material = 100% = 5,000 + 37,500 = 42,500 $3.20 = $136,000
Overheads = for 34,500 units 100% and remaining 8,000 = 40%
= 34,500 $4.80 + 8,000
$4.80
40%
= $165,600 + $15,360
= $180,960
Total = $316,960