Find the cost of ending work in process inventory

Reference no: EM132643142

Question - Mullins Corporation uses the first-in, first-out 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 800

Materials costs $11,700

Conversion costs $22,300

Percent complete with respect to materials 75%

Percent complete with respect to conversion 65%

Units started into production during the month 8,800

Units transferred to the next department during the month 8,000

Materials costs added during the month $ 161,300

Conversion costs added during the month$ 350,500

Ending work in process inventory:

Units in ending work in process inventory 1,600

Percent complete with respect to materials 65%

Percent complete with respect to conversion 50%

Required - Find the cost of ending work in process inventory in the first processing department according to the company's cost system?

Reference no: EM132643142

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