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Arp Company uses the weighted-average method in to estimate product costs, and reports the following costs for last month for the first department of a three stage production process:
Beginning work in process:
Units 400
Material cost $3,100
Conversion costs $3,900
Percentage of completion as to materials 55%
Percentage of completion as to conversion costs 25%
Units started 7,200
Units transferred to the next department 6,600
Material cost added $85,800
Conversion costs added $ 248,200
Ending work in process:
Units 1,000
Percentage complete as to materials 85%
Percentage complete as to conversion costs 70%
Required:
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