Assume the following information: Milling Department Units Percent Complete Materials...
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Accounting
Assume the following information:
| Milling Department | Units | Percent Complete | |
|---|---|---|---|
| Materials | Conversion | ||
| Beginning work in process inventory | 200 | 40% | 30% |
| Units started into production during March | 6,200 | ||
| Units completed during the period and transferred to the next department | 5,800 | 100% | 100% |
| Ending work in process inventory | 600 | ?% | 60% |
| Milling Department | Materials | Conversion |
|---|---|---|
| Cost of beginning work in process inventory | $ 10,000 | $ 15,000 |
| Costs added during the period | 290,000 | 385,000 |
| Total cost | $ 300,000 | $ 400,000 |
If the cost per equivalent unit for materials is $48.23 using the weighted-average method, then the percent complete with respect to the materials in ending work in process inventory is closest to:
A) 70%.
B) 40%.
C) 60%.
D) 50%.
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