D Inc., uses three departments to produce a detergent. The Finishing Department is the third and last step before the product is transferred to storage. All materials needed to give the detergent its final composition are added at the beginning of the process in the Finishing Department. The following data for the Finishing Department for October have been made available:
Production data:
In process, October labor and factory overhead, completed litres
Finished and transferred to storage litres
In process, October direct materials, completed; labor and factory overhead, complete litres
Additional data:
Workinprocess inventory, October :
Cost from this department: $
Materials
Labor
Factory overhead
Total costs $
Cost added in this department:
Materials $
Labor
Factory overhead
Total costs added $
Required:
Calculate the cost of the units transferred out to finished goods inventory and the value of the ending WIP under the weighted average method.
