In August, one of the processing departments at Knepp Corporation had beginning work in process inventory of $17,000 and ending work in process inventory of $13,000. During the month, $178,000 of costs were added to production.
-In the department's cost reconciliation report for August,the total cost to be accounted for would be:
A)$30,000
B)$390,000
C)$195,000
D)$373,000

Question

Quizplus · Accepted Answer

Total cost accounted for = Cost of ending work in process inventory + Cost of units transferred out
= $17,000 + $178,000 = $195,000

In August, One of the Processing Departments at Knepp Corporation