Purchase Solution

Kumari Corporation: Cost of ending work in process inventory

Not what you're looking for?

Ask Custom Question

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
Purchase this Solution
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.

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 ...

Purchase this Solution
Free BrainMass Quizzes
Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Learning Lean

This quiz will help you understand the basic concepts of Lean.

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

View More Free Quizzes
Related BrainMass Solutions

  • Karlana Corporation: Compute cost of goods manufactured

    , beginning $28 Work in process inventory, ending $29 Finished goods inventory, beginning $123 Finished goods inventory, ending $139 The cost of goods manufactured (finished) for the year (in thousands of dollars) was: a. $569 b.$511

  • Eccles finished good inventory; Yimron ending WIP; Raulot

    How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January?

  • Process costing- Yimron Corporation & Raulot Corporation

    The ending work in process is 60% complete with respect to conversion costs. What cost would be recorded for the ending work in process inventory? a. $3,264 b. $3,876 c. $4,764 d. $1,632 Exercise 2.

  • Shenkel Corporation: Calculate the Total Costs of Inventory

    414341 Shenkel Corporation: Calculate the Total Costs of Inventory In September, one of the processing departments at Shenkel Corporation had beginning work in process inventory of $16,000 and ending work in process inventory of $29,000.

  • Fuchs Corporation Cost of work in process

    202305 Fuchs Corporation Cost of work in process Fuchs Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units.

  • Allocating costs in a Process System

    What was the cost of the ending work in process inventory? b. Assuming 12,000 equivalent units were transferred from work in process inventory to finished goods inventory, determine the cost of ending work in process inventory.

  • Multiple Choice

    in process inventory, beginning $70 Work in process inventory, ending $50 Finished goods inventory, beginning $120 Finished goods inventory, ending $160 The cost of goods manufactured (finished) for the year (in thousands of dollars

  • Process Costing and Allocation

    What was the cost of the ending work in process inventory? b. Assuming 14,000 equivalent units of product were transferred from work in process inventory to finished goods inventory, determine the cost of the ending work in process inventory.

  • Equivalent production-weighted average method

    What was the cost of the ending work in process inventory? b.

View More Related Solutions