Assume the following information: Percent Complete
Milling Department Units 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 70 % 60 %
Milling Department Materials Conversion
Cost of beginning work in process inventory $ 10,000 $ 15,000
Costs added during the period 286,000 385,000
Total cost $ 296,000 $ 400,000

Using the weighted-average method, the total cost of the ending work in process inventory with respect to materials is closest to:

A) 21,487

B) 20,487

C) 21,187

D) 19,987

67) Assume a company uses the weight-average method in its process costing. Its Work in Process T-account for the Refining Department for August is:

Work in Process: Refining Department
August 1 balance 62,000 Completed and transferred
to Finished Goods ?
Materials 310,000
Direct labor 72,000
Overhead 181,000
August 31 balance ?

The August 1 work in process inventory consisted of 6,000 units with $49,500 in materials cost and $12,500 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started into production. The August 31 work in process inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion.

The materials cost included in the Refining Department’s ending work in process inventory is closest to:

A) 55,280

B) 50,280

C) 57,280

D) 53,280