Share
Explore BrainMass

Kumari Corporation: Cost of ending work in process inventory

Question 5:

Kumari Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 190
Materials costs $3,300
Conversion costs $6,600
Percent complete with respect to materials 85%
Percent complete with respect to conversion 70%
Units started into production during the month 8,000
Units transferred to the next department during the month 7,600
Materials costs added during the month $123,416
Conversion costs added during the month $333,916
Ending work in process inventory:
Units in ending work in process inventory 700
Percent complete with respect to materials 60%
Percent complete with respect to conversion 30%

The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:

$19,074

$10,358

$22,050

$15,792

Attachments

Solution Preview

Question 5:
Kumari Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 190
Materials costs $3,300
Conversion costs $6,600
Percent complete with respect to materials 85%
Percent complete with respect to conversion 70%
Units started into production during the month 8,000
Units transferred to the next ...

Solution Summary

This solution is comprised of a detailed explanation to answer what is the cost of ending work in process inventory in the first processing department according to the company's cost system.

$2.19