Process Cost System and Cost Transferred
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Company uses a process cost system. The company started march with 2,300 units in work in process-department A. During the month 4,000 units were started. At the end of the month there were 3,200 units in ending work in process-dept. A inventory that were 30% complete. The beginning work in process balance was $240,540 and total manufacturing cost for the period was $608,000. Based on this information, the amount of cost transferred from work in process-dept. A to work in process-dept B was:
a) $200,640 b) $254,562 c) $543,233 d) $647,900
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Solution Summary
Solution explains how to calculate amount of cost transferred from one process to another process.
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Note: As completion percentage of beginning work in process is not given weighed average process costing method is used.
Units completed and transferred out during month =Units in beginning work in process + units started during the month - ...
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