Assume the company uses a weighted average process costing system.
During the current period 5,000 units were transferred in (cost $140,000) to Department B.
In Department B materials were added costing $25,000 and conversion costs of $60,000 were incurred.
A total of 4,800 good units were transferred to finished goods.
Direct materials are added at the beginning of the process.
Beginning WIP: 1,000 UNITS, 40% complete
Direct materials costs = 4,070
Conversion costs = 6,008
Transferred-in-cost = 10, 080
Ending WIP: 1,200 UNITS, 30% complete
What is the value of: a) ending WIP and. b) the goods transferred out?