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Problem 1: Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,000 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $9,800. During the period, 9,000 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $5.00 for material and $6.00 for conversion costs. The cost of units transferred out during the month was:
Multiple Choice
Option 1: $54,000Option 2: $65,200Option 3: $99,000Option 4: $82,800
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