Reference no: EM133035063
Question - ABC Company operates two departments Department B and C. During May Department B reported the following.
Work in process May 1 Units 60,000 % complete DM 20% % conversion complete 70%
Units started during may 40,000
Work in process May 31, 20,000 units %complete DM 60% % conversion complete 30%
The cost of beginning work in process and cost added during May were as follows
Work in process may 1 DM $120,000 Conversion $150,000
Cost incurred during May $400,000 Conversion 350,000
The company uses a Weighted average process costing system.
Calculate the cost of goods completed and transferred out during May for department B?