Reference no: EM132609852
Kimbeth Manufacturing makes Dust Density Sensors (DDS), a safety device for the mining industry. The company uses a process costing system and has only a single processing department.
The following information pertains to operations for the month of May:
Units
Beginning work in process inventory 16,000
Started into production during May 100,000
Completed during May 92,000
Ending work in process inventory 24,000
The beginning work-in-process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs. The ending work-in-process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.
The costs were as follows:
Materials Conversion
Beginning work-in-process inventory $54,560 $35,560
Costs incurred during May $468,000 $574,040
Question 1: Using the weighted-average method, the total cost of the units in ending work-in-process inventory is closest to which of the following?
Multiple Choice
Option 1: $153,960.
Option 2: $156,960.
Option 3: $154,800.
Option 4: $86,400.
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