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Homework answers / question archive / Vorofy Manufacturing Company's beginning work-in-process inventory consisted of 10,000 units, 100% complete with respect to materials cost and 40% complete with respect to conversion costs
Vorofy Manufacturing Company's beginning work-in-process inventory consisted of 10,000 units, 100% complete with respect to materials cost and 40% complete with respect to conversion costs. The total cost in the beginning inventory was $30,000. During the month, 50,000 units were transferred out. The equivalent unit cost was computed to be $2.00 for materials and $3.70 for conversion costs under the weighted-average method. Given this information, what was the total cost of the units completed and transferred out?
Computation of total cost of the units completed and transferred out:
Units transferred = 50000 units
Equivalent unit cost for material =$2
Equivalent unit conversion cost =$3.70
Total unit cost = $2+$3.70 = $5.70
Total cost of units completed and transferred= 50,000*$5.70= $285,000
