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In June, one of the processing departments at Furbush Corporation had ending work in process inventory of $12,000. During the month, $404,000 of costs were added to production and the cost of units transferred out from the department was $426,000. In the department’s cost reconciliation report for June, the total cost accounted for would be:_________
a) $842,000
b) $46,000
c) $876,000
d) $438,000

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Answer:

d) $438,000

Explanation:

Calculation to determine what In the department’s cost reconciliation report for June, the total cost accounted for would be:

Using this formula

Total cost accounted for = Cost of ending work in process inventory + Cost of units transferred out

Let plug in the formula

Total cost accounted for=$12,000+$426,000

Total cost accounted for=$438,000

Therefore In the department’s cost reconciliation report for June, the total cost accounted for would be: $438,000

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