Cheese Heads Cheddar Utilizes a Process Costing System

question 96

Multiple Choice

Cheese Heads Cheddar utilizes a process costing system.The beginning Work in Process Inventory in the Cutting Department consisted of 16,000 units which were 100% complete with respect to materials and 20% complete with respect to conversion costs.The ending Work in Process Inventory consisted of 12,000 units which were 100% complete with respect to materials and 50% complete with respect to conversion costs.The total cost in beginning inventory was $65,000 with an additional $270,400 added during the period.During the month, 62,000 units were transferred out to the next department.The equivalent cost per unit was $1.50 for materials and $3.30 for conversion costs.How much is the total cost of the inventory transferred out during the period?

• A)$389,000
• B)$224,400
• C)$297,600
• D)$93,000

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Definitions:

Pluralism

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