Question

Metaline Corp. uses the weighted average method for inventory costs and had the following information available for the year. The number of units transferred to finished goods during the year is: Beginning Work in Process (40% complete, $1,100)200 units Ending inventory of Work in Process (80% complete)400 units Total units started during the year3,200 units Multiple Choice 3,200 units. 3,000 units. 3,400 units. 3,160 units.

Answer 1

Answer:

Results are below.

Explanation:

The weighted average method blends the costs and units of the previous period with the costs and units of the current period.

Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production

Units completed= (3,200 + 200) - 400= 3,000

Equivalent units of production= 3,000 + 400*0.8

Equivalent units of production= 3,320 units