Managerial Accounting (15th Edition)

Published by McGraw-Hill Education
ISBN 10: 007802563X
ISBN 13: 978-0-07802-563-1

Chapter 4 - Process Costing - The Foundational 15 - Required - Page 162: 15

Answer

The total cost to be accounted for = The total cost accounted for = 324,500.

Work Step by Step

The total cost to be accounted for = Costs in the beginning work in process inventory + Costs added during the period = 28,000 + 296,500 = 324,500. The total cost accounted for = Cost of ending work in process inventory + Cost of the units transferred out= 41,600 + 282,900 = 324,500.
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