Question

Work in process, November 1st Started in production during November Work in process, November 30th Units 16,900 109,000 24,900 The beginning inventory was 70% complete as to materials and 10% complete as to conversion costs. The ending inventory was 90% complete as to materials and 30% complete as to conversion costs. Costs pertaining to November are as follows: Beginning inventory: direct materials, $55,460; direct labor, $21,220; manufacturing overhead, $16,140. Costs incurred during the month: direct materials, $477,000; direct labor, $191,880; manufacturing overhead, $400,160. What are the total costs in the ending Work-in-Process Inventory assuming Bentley uses weighted- average process costing?
a. $137,854.
b. $94,590
c. $140,034
d. $137,793

Answer 1

Answer:

Explanation:

Opening units  16900  

Started               109000  

                              125900  

Transffered             101000  

Closing                         24900  

   

    Production and cost table using Weighted average method

Cost    Opening   current    Total    Complete     WIP       Equivalen     Cost

Head    Cost          Cost        Cost       Units         Units        Units      PerUnit    

Mat.   55,460     477,000    532,460   70,000   22,410   92,410   5.76  

Lab.   21,220      191,880     213,100     70,000   7,470   77,470   2.75  

MOH  16,140      400,160    416,300   70,000   7,470   77,470   5.37  

 Complete  70,000   8.51   595,887  

   

Closing Wip    

   

Material  22,410   5.76   129,125  

Labour  7,470   2.75   20,548  

MOH  7,470   5.3737   40,141  

                            189,814