Question

The beginning inventory was 60% complete as to materials and 20% complete as to conversion costs. The ending inventory was 90% complete as to materials and 40% complete as to conversion costs. Costs pertaining to November are as follows: Beginning inventory: direct materials, $54,560; direct labor, $20,320; manufacturing overhead, $15,240. Costs incurred during the month: direct materials, $468,000; direct labor, $182,880; manufacturing overhead, $391,160. What are the total costs in the ending Work-in-Process Inventory assuming Bentley uses weighted-average process costing?

Answer 1

Answer:

$156,960

Explanation:

the number of units is missing, so I looked for similar questions to fill in the blanks:

Beginning WIP 16,000 units

Started into production 100,000  units

Completed production 92,000 units

Ending WIp 24,000 units

Equivalent units:

materials = 92,000 + (24,000 x 0.9) = 113,600 EUP

conversion costs = 92,000 + (24,000 x 0.4) = 101,600 EUP

materials cost per EUP = ($54,560 + $468,000) / 113,600 = $4.60

conversion costs per EUP = ($35,560 + $574,040) / 101,600 = $6

Ending WIP:

materials = 21,600 x $4.60 = $99,360

conversion costs = 9,600 x $6 = $57,600

total costs = $156,960