Burgundy Manufacturing uses a process cost system and computes cost using the weighted average method.During the current period, the beginning work-in-process inventory cost was $13,525.Manufacturing cost added was $57,000.If Burgundy's ending work-in-process inventory was valued at $15,100, then cost of goods transferred must have been
A) $70,525
B) $55,425
C) $84,625
D) $58,575

Question

Quizplus · Accepted Answer

Cost to be accounted for = $13,525 + $57,000 = $70,525
 
Cost to be accounted for ? Ending inventory = Cost transferred
$70,525 ? $15,100 = $55,425

Burgundy Manufacturing Uses a Process Cost System and Computes Cost