Fuller Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were:
A total of 9,800 units were started and 8,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The total cost transferred from the first processing department to the next processing department during the month is closest to:
A) $620,100
B) $646,832
C) $542,106
D) $596,500
Correct Answer:
Verified
Q67: Sumter Corporation uses the weighted-average method in
Q68: Carpenter Corporation uses the weighted-average method in
Q69: Carpenter Corporation uses the weighted-average method in
Q70: Lucas Corporation uses the weighted-average method in
Q71: Kota Toy Corporation manufactures lizard dolls in
Q73: Sumter Corporation uses the weighted-average method in
Q74: Sumter Corporation uses the weighted-average method in
Q75: Jublot Corporation uses the weighted-average method in
Q76: Inacio Corporation uses the weighted-average method in
Q77: Domingo Corporation uses the weighted-average method in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents