Question

The beginning Work in Process inventory cost was $2,540. Cantor added $351,000 of product costs to Work in Process during the period. What is the amount of cost that should be transferred out of Work in Process

Answer 1

Answer:

$353,540

Explanation:

Given that

Beginning work in process inventory cost = $2,540

Additional cost of product cost to work in process = $351,000

So the amount of cost that should be transferred out is

= Beginning work in process inventory cost + Additional cost of product cost to work in process

= $2,540 + $351,000

= $353,540