Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning...

60.1K

Verified Solution

Question

Accounting

Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were:
Percent
Cost
Complete
Materials costs
$15,700
75%
Conversion costs
$7,700
20%
A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
Cost
Materials costs
$ 186,300
Conversion costs
$329,800
The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs.
The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round your intermediate calculations to 3 decimal places.)
Select one:
A. $74,801
B. $64,115
C. $68,067
$106,859
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students