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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

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

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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