The following costs were accumulated by Department 2 of Joplin Company during November:

Cost Transferred from Dept. 1 Material Conversion Costs Total

Beginning Inventory $ 17,050 0 $ 5,450 $ 22,500

Current Period Cost 184,000 $ 34,000 104,000 322,000

$ 201,050 $ 34,000 $ 109,450 $344,500

Production for November in Department 2 (in units):

WIP-November 1 2,000 60% complete

Complete period transferred 20,000

WIP-November 30 5,000 40% complete

Materials are not added in Department 2 until the very end of processing Department 2. Required:Compute the cost of units completed and the value of ending WIP for: a. Weighted average invent ouv assumntion b. FIFO inventoty assumption

Question

The following costs were accumulated by Department 2 of Joplin Company during November:

	Cost Transferred from Dept. 1	Material	Conversion Costs	Total
Beginning Inventory	$ 17,050	0	$ 5,450	$ 22,500
Current Period Cost	184,000	$ 34,000	104,000	322,000
	$ 201,050	$ 34,000	$ 109,450	$344,500

Production for November in Department 2 (in units):

WIP-November 1	2,000 60% complete
Complete period transferred	20,000
WIP-November 30	5,000 40% complete

Materials are not added in Department 2 until the very end of processing Department 2. Required:Compute the cost of units completed and the value of ending WIP for: a. Weighted average invent ouv assumntion b. FIFO inventoty assumption

Quizplus · Accepted Answer

The Answer of The following costs were accumulated by Department 2 of Joplin Company during November:

	Cost Transferred from Dept. 1	Material	Conversion Costs	Total
Beginning Inventory	$ 17,050	0	$ 5,450	$ 22,500
Current Period Cost	184,000	$ 34,000	104,000	322,000
	$ 201,050	$ 34,000	$ 109,450	$344,500

Production for November in Department 2 (in units):

WIP-November 1	2,000 60% complete
Complete period transferred	20,000
WIP-November 30	5,000 40% complete

Materials are not added in Department 2 until the very end of processing Department 2. Required:Compute the cost of units completed and the value of ending WIP for: a. Weighted average invent ouv assumntion b. FIFO inventoty assumption

The Following Costs Were Accumulated by Department 2 of Joplin