Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,100 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $8,900. During the period, 8,100 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $4.10 for material and $5.10 for conversion costs. The cost of units transferred out during the month was:

Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,100 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $8,900. During the period, 8,100 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $4.10 for material and $5.10 for conversion costs. The cost of units transferred out during the month was:

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Description: Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in itsPainting Department consisted of 2,100 units that were 60% complete with respect to materials and 40% complete with resp

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 6PA: Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in...

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Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units before ending the month with 3.000 u flits that were 100% complete with regard to materials and 80% complete with regard to conversion costs. The cost per unit of material is $5.45, and the cost per unit for conversion is $6.20 per unit, Using the weighted-average method, prepare the companys process cost summary for the month.
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