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Calculate the cost of goods completed and transferred out

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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?

Reference no: EM133035063

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