Parnelli Tires Uses a Process Costing System and Has 1,600

question 111

Multiple Choice

Parnelli Tires uses a process costing system and has 1,600 tires remaining in its Belting Department's Work in Process inventory at month end.These tires are 90% and 40% complete with regard to materials and conversion costs, respectively.There were 6,500 tires completed and transferred out during the period.Conversion costs during the beginning of the month were $69,300 and added during the period were $116,340.How much is the conversion cost of the ending Work in Process?

• A)$7,140
• B)$16,640
• C)$36,700
• D)$24,960

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