Reference no: EM132798301
Question - ABC Corporation uses weighted- average method in its processing costing system. Data concerning the first department of the company, for the month of December, are given below:
Beginning Inventory 700 units
The beginning work in process inventories were 75% completed in relation to material and had a cost of $11,500, and 65% completed in relation to conversion and had a cost of $22,500. 8,600 units were sent into production, in the month of December. During the month, a total of 7,800 units were completed and transferred into the next department.
The ending work in process inventory were completed at 50% and 65%, in relation to material and conversion, respectively. The total cost of production added during the month were $507,800 in relation to material cost and $490,000, in relation to conversion cost.
Required - Calculate the cost of the units completed to transfer into the next department of ABC Corporation and the cost of the ending work in process inventory in the first department.
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