Answer:
ending WIP inventory (materials) 5,314.86 dollars
Explanation:
Weighted average puts the beginning WIP inventory together with the cost added during the period.
<u>Total cost:</u> 2,000 beginning + 35,900 added during the period = 37,900
Equivalent units:
The EU will be the complete units plus the percentage of completion in the ending WIP innvetory
Beginning 2,800
Started 22,000
Ending <u> (4,200) </u>
Completed 20,600
percentage of completion ending WIP 80%
EU ending WIP 4,200 x 80% = 3,360
Total equivalent units: 20,600 + 3,360 = 23,960
Cost per equivalent unit:
37,900 dollars / 23,960 units = 1,581803005008347
we are asked to not round so we use the complete number:
ending WIP value: 3,360 EU x 1.581803005008347 per EU= 5314,858096828047 dollars