Question

Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 16,500 units, 100% complete with respect to materials cost and 40% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $24,600. A total of 50,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.30 for materials and $3.00 for conversion costs. The total cost of the units completed and transferred out of the department was:

Answer 1

Statement of cost
		Transferred
Cost	Equivalent Cost/unit (A)	Units (B)	Cost Allocated (A x B)
Material	$                     1.30	50,000	$          65,000.00
Conversion Cost	$                     3.00	50,000	$       1,50,000.00
TOTAL		TOTAL	$             2,15,000

he total cost of the units completed and transferred out of the department was:$215000