A company started a new product, and in the first month started 124,575 units. The ending work in process inventory was 14,775 units that were 100% complete with materials and 65% complete with conversion costs. There were 14,775 units to account for, and the equivalent units for materials was $5 per unit while the equivalent units for conversion was $8 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method?

A company started a new product, and in the first month started 124,575 units. The ending work in process inventory was 14,775 units that were 100% complete with materials and 65% complete with conversion costs. There were 14,775 units to account for, and the equivalent units for materials was $5 per unit while the equivalent units for conversion was $8 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2EA: A company started a new product, and in the first month started 100,000 units. The ending work in...

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