The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:
A)$54,299
B)$51,613
C)$58,495
D)$68,817

Question

Quizplus · Accepted Answer

The cost of ending work in process inventory in the first processing department according to the company's cost system is $54,299. This is because the company uses the weighted average method to assign costs to ending work in process inventory, and the weighted average cost per unit for the first processing department is $17.09. There are 3,180 units in ending work in process inventory in the first processing department, so the total cost of ending work in process inventory in the first processing department is $54,299 (3,180 units x $17.09 per unit).

The Cost of Ending Work in Process Inventory in the First