Reference no: EM131803813
Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 740 units. The costs and percentage completion of these units in beginning inventory were:
| Cost |
Percent Complete |
| Materials costs |
$8,300 |
80% |
| Conversion costs |
$7,300 |
30% |
A total of 8,500 units were started and 7,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
| Materials costs |
$138,300 |
| Conversion costs |
$324,300 |
The ending inventory was 90% complete with respect to materials and 85% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed.
How many units are in ending work in process inventory in the first processing department at the end of the month?
1,240 Units, 7,760 Units 1,440 Units 700 Units