cost for units transferred out 458919
*Please SHOW ME HOW to solve this
Sumter Company uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month
Work in process, beginning:
Units in process…6,000
Percent complete with respect to materials…60%
Percent complete with respect to conversion…20%
Costs in the beginning inventory:
Units started during the month…?
Units completed and transferred out during the month…70,000
Costs added to production during the month:
Work in process, ending:
Units in process…8,000
Percent complete with respect materials…75%
Percent complete with respect to conversion…25%
How much cost, in total, was assigned to the units transferred out to the next department during the month?