In September, one of the processing departments at Dunder Mifflin Corporation had ending work in process inventory of $21,000. During the month of May, $110,000 of costs were added to production and the cost of units transferred out from the department was $99,000. In the department's cost reconciliation report for October, the cost of beginning work in process inventory for the department would be

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25-02-2021
Business

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In September, one of the processing departments at Dunder Mifflin Corporation had ending work in process inventory of $21,000. During the month of May, $110,000 of costs were added to production and the cost of units transferred out from the department was $99,000. In the department's cost reconciliation report for October, the cost of beginning work in process inventory for the department would be

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jepessoa jepessoa · Answer 1 · 2021-02-28T01:45:54+01:00

jepessoa jepessoa

28-02-2021

Answer:

beginning WIP = $10,000

Explanation:

beginning work in process = value of finished goods + value of ending WIP - costs incurred during the period = $99,000 + $21,000 - $110,000 = $10,000

beginning work in process represents all the units that were started during previous periods but were finished during the current period

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andromache andromache · Answer 2 · 2022-03-01T13:22:22+01:00

The cost of beginning work in process inventory for the department would be $10,000

Calculation of beginning work in process inventory cost:

Since ending work in process inventory of $21,000. During the month of May, $110,000 of costs were added to production and the cost of units transferred out from the department was $99,000.

So, the beginning WIP is

= $99,000 + $21,000 - $110,000

= $10,000

Hence, we can conclude that The cost of beginning work in process inventory for the department would be $10,000

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