Lowden Company produces one product in a process-costing system involving several departments. The first department's costs and output for the month of June are as follows:
Units: Costs:
Beginning WIP: ^*100 percent completed for materials, 40 percent completed for conversion costs
^#100 percent completed for materials, 30 percent completed for conversion costs
Required: Compute the cost of work completed and the cost of the ending inventory of work-in-process using the weighted-average method.

Question

Lowden Company produces one product in a process-costing system involving several departments. The first department's costs and output for the month of June are as follows:
Units:

Costs:
Beginning WIP:

^*100 percent completed for materials, 40 percent completed for conversion costs
^#100 percent completed for materials, 30 percent completed for conversion costs
Required: Compute the cost of work completed and the cost of the ending inventory of work-in-process using the weighted-average method.

Quizplus · Accepted Answer

The Answer of Lowden Company produces one product in a process-costing system involving several departments. The first department's costs and output for the month of June are as follows: Units: Costs: Beginning WIP: ^*100 percent completed for materials, 40 percent completed for conversion costs ^#100 percent completed for materials, 30 percent completed for conversion costs Required: Compute the cost of work completed and the cost of the ending inventory of work-in-process using the weighted-average method.

Lowden Company Produces One Product in a Process-Costing System Involving